Why Beauty Brands Need to Get to Market Fast – and How Goldn Will Help
Sep 26, 2021 · 3 min read
If you’ve set out to create a new cosmetic product or launch a new Beauty Brand, you might be feeling a certain sense of urgency to get to market – a rush to get your product formulated, tested, packaged, and onto shelves or online stores.
And if you don’t feel a sense of urgency, you should.
The consumer cosmetic and beauty market moves at an incredibly rapid pace. Like much of the rest of the fast-moving world we live in, trends and technologies come and go, and consumers quickly move on to the Next Big Thing.
For Beauty Brands, reducing the time from ideation – that initial, bright idea – to market is absolutely crucial, due to a number of market pressures.
Here are the top three reasons you should be in a hurry to launch your new cosmetic product:
1. Cosmetic Consumers are Fickle
Beauty and cosmetics consumers, especially those avid beauty fans known as “beauty enthusiasts,” are always on the hunt for the newest, most innovative products. They want to hear your founder’s story; they want to know how your product is different from anything else on the market, and they want to be among the first to try the formula behind your appealing new label. The longer it takes for you to get your product or brand into their hands, the more they’re turning to other new products to take its place.
2. Beauty Retailers are Demanding
The retail industry in general takes no prisoners. Through “accelerator programs,” as they’re called in the business, many cosmetics and beauty retailers, whether they’re big box stores, specialty beauty stores, or e-commerce sites, may offer technical and even monetary support to help you get to market. But they make initial sales a condition of staying on their shelves. That means the sooner you can get your product to market, the more time you have to concentrate on marketing and promoting it through social media, traditional media, and other outlets, building brand loyalty, and creating a buzz.
3. In Business, Timing is Everything
Let’s say you’re working with a new “miracle” ingredient that promises to disrupt the skincare market. If it takes you too long to get to market, someone else will have already done the disrupting, and your new product will be yesterday’s news before it even hits the shelves.
Holidays and seasonal buying trends matter, too. If you’re launching a new sunscreen but aren’t ready for launch until September, you’ve just missed your peak purchasing season – the summertime. That anti-aging serum you’re developing would make a great Mother’s Day gift, but might not sell as briskly come Memorial Day. And let’s not even talk about the winter holidays! Miss that seasonal window by a few weeks – or even a few days – and you’ll have to wait a whole other year for such a prime retail period.
Hurried is Not the Same as Haphazard
You’ve probably heard your entire life, from your parents, teachers, and mentors, that rushing through any task can lead to critical errors and sloppy results. And in the cosmetic product development industry, those errors and poor results are costly, and can even spell the end of your Beauty Brand. So the object of the game isn’t just to rush your new product to market but to expedite in an efficient, accurate way.
And that’s where Goldn comes in.
How Goldn Helps Beauty Brands Get to Market Faster
When you work with Goldn and the Cosmetic Product Builder, you work within a platform that’s specifically designed to speed up the cosmetic product development timeline but does so in a way that minimizes risk and maximizes your chances of success. We achieve this in a number of ways, but for Beauty Brands and start-ups, two of the most important ones are by providing resources and guidance.
Resources. With Goldn, you get lightning-fast access to resources – from formulators to ingredient suppliers to regulatory pros to package designers and more. These contacts could otherwise take months or longer to establish. Within the Goldn digital ecosystem, these product development partners are all just a click away.
Guidance. The Goldn Cosmetic Product Builder guides Cosmetic Product Developers through every stage of the process. Our intuitive product development tool makes sure you ask the questions you need to be asking – of yourself and others. It quite literally makes sure that you tick all the boxes so that you don’t go to market without a budget, a marketing plan, or without fulfilling the necessary steps for testing, certification, and regulatory compliance.
Launching a new Beauty Brand and getting a new cosmetic product to market quickly shouldn’t mean that you sacrifice quality or safety, or make costly mistakes. With Goldn and the Goldn Product Builder, the cosmetic product development process is fast, yet careful and above all, simple and delightful!
Liz is a writer and editor based in central Italy.
Connect with Elizabeth Heath on LinkedIn.
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