Cosmetic companies accelerate their co-branding initiatives
Implications - Understanding the rising influence of social media influencers, as well as acknowledging the interest piqued when traditional brands collaborate with adjacent industries, cosmetic companies are ramping up their co-branding initiatives via various product lines and/or retail spaces.
Insight - Millennial and Gen Z consumers today hold very strong opinions about different brands in all sorts of industries and extend a good deal of loyalty to the brands they do like. As a result, these two demographic groups are often excited by unexpected partnerships that celebrate and spotlight their love of two separate brands at once.
Insight - Millennial and Gen Z consumers today hold very strong opinions about different brands in all sorts of industries and extend a good deal of loyalty to the brands they do like. As a result, these two demographic groups are often excited by unexpected partnerships that celebrate and spotlight their love of two separate brands at once.
Workshop Question - Consider a company or influencer your brand could co-create with.
Trend Themes
1. Co-branded Initiatives - Cosmetic companies are teaming up with businesses from adjacent industries to create unique experiences and increase product offerings.
2. Social Media Influencers - Rising influence of social media influencers has encouraged companies to collaborate and target younger, brand-loyal demographics.
3. Dessert-inspired Cosmetics - Companies are creating makeup products with dessert themes as a way to appeal to younger audiences on social media.
Industry Implications
1. Beauty Industry - Cosmetic brands can enhance their product lineup through co-branding initiatives, and target younger demographics on social media through partnerships with influencers.
2. Food Industry - Businesses in the food industry can partner with cosmetic brands for unique retail experiences, and use their product offerings to promote new menu items.
3. Social Media Industry - Influencer marketing is becoming more popular as brands recognize its potential, and companies can benefit from partnerships with influencers to increase their social media reach.
