Key Takeaways
- The beauty product development timeline has significantly shortened, demanding quicker market responses.
- Customer-centric testing and clear communication are vital for successful product launches.
- Brands must align product development with marketing trends to avoid misfires in consumer appeal.
Shifting Dynamics in Beauty Product Development
The landscape of beauty product development has evolved dramatically, with speed-to-market pressures and consumer demands driving change. Panelists at Beauty Independent’s BITE event on September 10 discussed these shifts, revealing how the traditional timelines have drastically shortened over the years.
Serena Godin, chief product officer at True Botanicals, highlighted that product development cycles that once took 24 to 36 months now need to be condensed to remain relevant. “If you wait that long, it’s already a has-been,” she stated, emphasizing the need for brands to identify where to innovate and where to streamline processes.
True Botanicals’ Chebula Active Serum has exemplified how luxury and rigorous scientific testing can coexist in a successful product. Godin noted that product testing can often become a bottleneck, thus requiring close management to ensure efficiency.
The importance of personal connection in product development was echoed by Nicole Eccles, founder of Glasshouse Fragrances. She personally engages with perfumers to ensure that customer testing focuses on the most discerning users. “If the most difficult-to-please customers like it, then I know we have a product,” she explained.
Fromm International CEO Martin Okner oversees a diverse portfolio of 2,000 SKUs and underscores the role of leadership in navigating innovation. He pointed out a recent heatless curler launch that went from concept to retail in a matter of months, affirming that delays can mean missed opportunities.
Tish Poling, president of a product development company, warned against creating generic “me-too” products, emphasizing the need for clarity at the inception stage. “The more I know, the more my team knows exactly what you want,” she said, highlighting the importance of understanding market needs to prevent costly back-and-forth with labs.
Panel members agreed that product development must increasingly align with marketing strategies. Godin noted that sometimes product innovations can lead marketing directions, while at other times, marketing can dictate product development. The mutual influence requires brands to be cautious about following trends without anchoring them in genuine consumer interest.
Chasing trends without adequate real-world relevance can lead to product failures. For instance, Godin recounted a failed CBD face oil that did not resonate with customers. Okner also mentioned a Revlon lipstick that misfired because it was marketed incorrectly. He articulated a balanced formula for development, comprising 50% customer insight, 25% retailer feedback, and 25% trend analysis.
Looking ahead, the panelists shared insights into future innovations, including new delivery systems and cutting-edge skincare technologies. Poling encapsulated the panel’s sentiment: “For us, product is everything. I’m only as good as my last launch, and, on TikTok, that’s about two minutes.”
The discussion at the BITE event underscores the compelling evolution within the beauty industry and illuminates the critical pathways brands must navigate to thrive in a saturated market.
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