Using Brand Loyalty to Tailor Product Offerings in Beauty and Personal Care
Investigating consumer’s brand loyalty provides insight on how a company can tailor offerings to the needs of specific buyers. For example, Euromonitor International’s recent survey on apparel, beauty and grooming found that in facial care, 50 percent of consumers stick to one trusted brand but in nail polish 55 percent of consumers switch between brands on a regular basis. Looking at a brand’s market performance highlights these results. For example in 2008-2013, skin care brand L’Oréal Paris expanded its market value share by 50 basis points while L’Oréal’s Maybelline line remained flat over the same period.
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