eNewsletter 13
COSMEX Forum which was organized on 22 September at Bhiraj 1 Hall of BITEC, Bangkok, under the topic “Boundaryless Beauty Business,” gave new trends, ideas, and inspiration to hund...
eNewsletter 13
COSMEX Forum which was organized on 22 September at Bhiraj 1 Hall of BITEC, Bangkok, under the topic “Boundaryless Beauty Business,” gave new trends, ideas, and inspiration to hundreds of brand owners and aspiring brand owners of cosmetics and personal care products through rich experiences of the panel of speakers which consisted of General Manager of Maybelline New York Thailand, Chairit Nasomyont; founder of SHAÍ and SHAí Beauty Room, Pilan Sriveerakul; and Business Development Director of Hollymood Co., Ltd., Nutthanin Khunathanat.
At one point, the panel discussed that modern consumers get bored easily and always look out for new products to try. They tend to have less brand loyalty than consumers of the older generations. Therefore, entrepreneurs need to adjust by producing products in smaller sizes with many benefits in one, and marketing them via a wide variety of channels including convenience stores and online platforms. For example, one product can be used as both makeup and skin care. It must also be highly effective because customers want to see results immediately. It is also important to use various media channels, a variety of brand ambassadors, and creative storytelling to attract consumers and create a viral trend to increase sales and brand awareness.
Entrepreneurs who are aspired to start their own brands are advised to have a deep passion in this business, find the right target customers and learn about what they really want. Then, develop products that can actually solve the problems by knowing exactly what ingredients to use and how to communicate their benefits. The three speakers concur that the beauty and health market always has a room for new players to grow. Plus, there is no need to push out multiple products early on in the business. Instead, focus on developing a single hero product to test the market to save both production and storage costs. Once it becomes successful, you can expand the lineups and the size of your business. It is also important to have a big dream but start with a baby step.