For cosmetic products, popularity > quality
Evident by what companies in the cosmetic industry survive in the long run, popularity seems to be far more important in the long run than even the quality of t
Despite the size of the cosmetic market, few brands last and continue to dominate. And for good reason. To customers, using cosmetics is personal and what products they use says a lot about them.
Most customers claim that when it comes to cosmetics the quality of the product is all that matters to them. However, brand popularity also seems to play a role in what customers will be seen using. The brand’s message and widespread use definitely signals to customers and impact their buying habits. It signals to others their taste and what they can afford.
The brands that establish customer loyalty through brand popularity are ones that continue to survive and dominate the cosmetic industry. Evident by what companies in the cosmetic industry survive in the long run, popularity seems to be far more important in the long run than even the quality of the products.
L’Oreal, by far the Largest cosmetic beauty brand in the world, boosts nearly 10% of the worldwide revenue for cosmetic companies. Despite being over 100 years old, the company’s products continue to be popular among customers. Also, the key to the brand’s success appears to be that it sells a wide range of products that sell at discount and luxury prices. That helps keep L’Oreal popular among a variety of customers and helps give it multiple revenue streams.
If you ask most customers if L’Oreal has the best quality products, few customers will see that L’Oreal’s products are by far the best on the market. If you look at customer’s reviews of L’Oreal, you will be disappointed.
So, why do customers religiously use L’Oreal? Likely, that is what they have always used. Or that is what their friends use. Either way, it is not solely because of L'Oreal's quality. It seems that too many customers, popularity is a more important quality. Or at least for this is true for the industry’s largest brand.
This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.
© 2019 Michael Mannen