On May 9th, Fashion Group International held their annual Pioneering Beauty Luncheon and Panel at the Midtown Hilton in New York City. The exclusive panel was moderated by Emily Dougherty, Beauty and Fitness Director, Elle Magazine, and consisted of four other beauty executives that are each making waves within the industry. Robert DeBaker, President and CEO BECCA Cosmetics, Linda Levy, Group Vice President/Divisional Merchandise Manager for Fragrances Macy’s, Verane de Marffy, Vice President of Marketing, CRM and Social Media Yves Saint Laurent Beauté and Dianna Ruth, COO and Product Developer Milk Makeup.
Throughout the hour long discussion, the panel discussed many topics regarding beauty, emphasizing on the rapidly evolving industry and how products are marketed. Some notable take-aways was during moderator Emily Dougherty’s opening presentation explaining that just because a product is “buzzed about” and has a great social media campaign does not mean they’re necessarily good. Another note was that consumers are starting to flock towards products that actually work on their skin, regardless of price point and marketing, with indie products making a big comeback. She also went on to say that we are seeing many “limited edition” and “capsule collections” popping up… yes they’re a great marketing tool to get buzz, but many consumers who don’t have access to these products get upset and angry when they can’t get their hands on them. It’s a good strategy on occasion, but you will never see full growth using it all the time.
Another take-away was when the panel was discussing packaging and is it as important as the product itself. The answer was a resounding yes. However, they agreed that you must stay authentic and consumers nowadays want authentic looking products, let it be drugstore or prestige.
On a closing statement, Robert DeBaker took a question regarding online sales and growth from a member of the audience. His answer was simple: in order to survive in this marketplace, companies need to put a stronger emphasis on their digital marketing and sales by making it their number one priority, making brick and mortar operations their second. If that doesn’t make you think about this ever growing beauty marketplace, I’m not sure what will.
Take a look at some pictures from inside the event!