Ashish Aurora’s Post

What does the current landscape mean for brands in 2024? In an uncertain economic and geopolitical climate affordability and convenience continue to reign supreme as businesses adapt to the ongoing transition from physical stores to e-commerce. Despite growing skepticism of influencer-driven marketing, social media continues to influence purchasing decisions significantly. According to Roland Berger’s "Decoding Consumer Behavior" study, conducted with Potloc in November 2023, value for money remains paramount, followed closely by quality and durability. The trend towards health, wellbeing, and conscious consumption continues to gain traction. For luxury items, consumers prioritize quality and brand reputation. Brands need to have clear value propositions, emphasizing quality and leveraging digital technologies for personalized offerings. Promotions and exclusive member benefits can attract more customers, particularly as over a third of respondents expect a moderate increase in spending, with younger shoppers showing particular optimism. How are you positioning your brand to win in the current landscape? #businessgrowth #brandbuilding #consumercentric #businessbrandpeople ------------------------------------------------------------------------- About Heike Linnemann I help companies unlock business growth – with brand building and marketing - by understanding opportunities for growth, building competencies, and working execution hand in hand with your team. With 20 years of experience in international consumer goods - last as CMO of KIKO Milano - I started consulting because I am passionate about growing businesses. Let's connect the dot's between business, brand & people

🌍 Embracing Inclusion and Longevity in Today’s Market! I recently checked out Mintel’s latest report on global consumer trends, and two themes really caught my attention: inclusion and longevity. As someone who’s passionate about DEI and brand strategy at Fushi, I see how crucial it is for brands to truly embrace diversity and create a sense of belonging. Consumers want to see themselves reflected in the brands they support, and this genuine connection can drive real loyalty and innovation. The report also highlights a growing focus on longevity, pointing to a shift towards sustainability and mindful consumption. I firmly believe that brands have a responsibility to promote health and well-being while also being kind to our planet. At Fushi we’re committed to making choices that align with these values. As we navigate these important trends, I’m excited to connect with others who are equally passionate about shaping a more inclusive and sustainable future. How is your organisation responding to these changing expectations? #Inclusion #Sustainability #ConsumerTrends #Longevity #DEI #BrandStrategy #FushiWellbeing https://lnkd.in/eFR-yynM

The future of retail belongs to those who understand the next generation of shoppers. They're not just following trends – they're creating them. From Gen Alpha's playful, inclusive approach to beauty to the mindful consumption driving the "sober curious" movement, consumer behavior is evolving rapidly. At Ogilvy Singapore, we've decoded these emerging forces in our latest report, "15 Trends to Win the Next Generation of Shoppers." Discover how these trends are reshaping the retail landscape and gain actionable insights to connect with today's dynamic consumers. Download the report now and stay ahead of the curve: https://lnkd.in/g68hPyPh #RetailTrends #ConsumerInsights #GenAlpha #FutureofRetail #Marketing #OgilvySingapore #Innovation #NextGenShoppers #MindfulConsumption

This article is part of a 11 post series on the beauty industry, focusing on E.L.F. BEAUTY Post 4: Scaling in Beauty 🚀 Scaling in the Beauty Industry While the beauty industry is fertile ground for new brands, achieving significant scale remains challenging. Of the brands founded after 2005, only a few have surpassed $250 million in revenue. 🌐 Challenges and Strategies: 1. Internationalization: Expanding to new markets is crucial for growth. Successful brands leverage local insights and tailor their strategies to fit new demographics. 2. Omnichannel Expansion: Integrating online and offline sales channels creates a seamless customer experience, enhancing brand reach and customer loyalty. To thrive, beauty brands must navigate these challenges with strategic precision, focusing on global expansion and comprehensive customer engagement. #ScalingUp #BeautyBrands #MarketExpansion #GenZ #Sustainability #ConsumerBehavior #BeautyIndustry #CaseStudy #ELFCosmetics #MarketTrends #BeautyTrends #MarketingStrategy #ConsumerInsights #InfluencerMarketing #BeautyTech #BrandGrowth References: Hudson, 2023 - Hudson, J. (2023). Scaling Challenges in the Beauty Industry. [Publisher]. McKinsey & Company, 2022 - McKinsey & Company. (2022). The State of Fashion 2022: Beauty Edition. [Publisher]. Euromonitor International, 2023 - Euromonitor International. (2023). Global Beauty and Personal Care: Strategies for Growth. [Publisher]. Deloitte, 2023 - Deloitte. (2023). Global Powers of Beauty and Personal Care. [Publisher]. Mintel, 2023 - Mintel. (2023). Beauty and Personal Care: Global Market Analysis. [Publisher].

By 2025, as many as 59% of consumers expect more than half of retail space to be devoted to experience rather than product. Have you noticed a shift yet? Is experiential retail a real growth opportunity for retailers? Take a look at our Horizon Scan of the Beauty and Personal Care sector to see where our Strategy & Insights team see growth opportunities, it might not be where you expect!  https://lnkd.in/eeqyJkea

"Asian consumers will seek innovative ways to maximise value, whether it’s through personalised experiences, sustainable products, or enhanced convenience. A continuation from 2023, we are seeing the impact of the ongoing global economic slowdown and cost-of-living crisis continue to impact consumer sentiments in APAC in 2024. Asian consumers will prioritise short-term solutions and micro-indulgences while reassessing long-term health and well-being goals." Check out some of the insights shared by WGSN from our Asia Shopper Priorities 2024 report. DM me if you would like to know more about how you can better target your future consumer through product design, retail & marketing strategies! https://lnkd.in/g3B4ehTc

🌍 As consumer behavior continues to evolve in 2024, a most recent study by Roland Berger sheds light on key trends shaping the retail landscape globally. 🛍️📈 In an era of economic uncertainty, understanding consumer behavior is key for businesses to thrive. The study highlights several key findings: 1️⃣ Value for Money Reigns Supreme: Consumers prioritize affordability, quality, and durability. Businesses should focus on offering value-driven propositions. 2️⃣ Shift towards Essentials: With rising living costs, consumers are cutting back on non-essential spending. Grocery shopping and discount stores remain popular, reflecting a focus on essentials. 3️⃣ Rise of E-commerce: The convenience of online shopping continues to grow, impacting traditional retail. Businesses need to adapt to the digital landscape to remain competitive. 4️⃣ Regional Variations: Consumer sentiment varies globally, with optimism higher in China, the US, and the Middle East. Adapting strategies to regional preferences is crucial for success. 5️⃣ Focus on Health and Wellbeing: Consumers are increasingly conscious of health and sustainability. Businesses should align offerings with these evolving preferences. 6️⃣ Opportunities in Luxury Market: Quality and brand reputation remain paramount in the luxury sector. Tailored strategies and enhanced branding can attract discerning consumers. To succeed in 2024, businesses should: 🔹Enhance value propositions 🔹Invest in digital capabilities 🔹Offer personalized experiences 🔹Adapt strategies to regional nuances 🔍 For more insights into consumer behavior and strategies to navigate the evolving retail landscape, dive into the full report by Roland Berger. 📊💡 #ConsumerBehavior #RetailTrends #BusinessInsights 🛒💼

𝗡𝗮𝘃𝗶𝗴𝗮𝘁𝗶𝗻𝗴 𝗖𝗵𝗮𝗻𝗴𝗲: 𝗔𝗴𝗶𝗹𝗶𝘁𝘆 𝗶𝘀 𝘁𝗵𝗲 𝗖𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗘𝗱𝗴𝗲 𝗳𝗼𝗿 𝗕𝗲𝗮𝘂𝘁𝘆 𝗕𝗿𝗮𝗻𝗱𝘀 𝗶𝗻 𝟮𝟬𝟮𝟰! As the beauty industry navigates the dynamic landscape of 2024, shifting consumer behaviors, geographic variations, and inflationary pressures are highlighting the agility of key players. Companies like Puig and Interparfums, known for their nimbleness in resource allocation and market responsiveness, are experiencing impressive double-digit growth. In contrast, even giants like Estée Lauder, Shiseido, and L’Oréal faced challenges in Q3, potentially due to difficulties in adapting to rapid market changes and varying regional demands. Despite these headwinds, the industry as a whole shows resilience, with an aggregated 5% year-to-date growth among major players. This underscores the sector’s ability to adapt and thrive in an era of changing consumer preferences and economic constraints. With innovation in product development, advances in AI-driven personalization, and a renewed focus on in-store experiences, beauty brands are finding new ways to build strong connections with customers. As inflation is expected to ease in certain markets, the road ahead presents significant opportunities. However, brands will need to stay agile and responsive to capture growth as they move toward 2025, ready to meet emerging trends and regional nuances. #BeautyIndustry #MarketGrowth #Innovation #Agility #ConsumerTrends #BeautyMarket #datainsights

Kantar BrandZ reveals that brands with high cultural relevance grow faster. This is because emotion plays a critical role in decision making, and powerful brands with a high consumer predisposition tap deep into the heart of the drivers of consumer choice. Read more in Yasmin Kathoria and Lerato Kgatla’s article in Bizcommunity.com about how to build iconic meaningful brands that are connected to culture, and the brands that are getting it right. https://lnkd.in/eSPdRb73 #BII #BrandInclusionIndex #Culture

Kantar BrandZ reveals that brands with high cultural relevance grow faster. This is because emotion plays a critical role in decision making, and powerful brands with a high consumer predisposition tap deep into the heart of the drivers of consumer choice. Read more in Yasmin Kathoria and Lerato Kgatla’s article in Bizcommunity.com about how to build iconic meaningful brands that are connected to culture, and the brands that are getting it right. https://lnkd.in/eqhM6cBU #BII #BrandInclusionIndex #Culture