Skincare brands represent one of the most lucrative expanding markets in the world. And there’s still plenty of room for growth. As of his time, experts predict the global market will reach a total worth of $200.25 billion by 2026, so there’s never been a better time to look at launching your skincare line.
Whether your focus is on masks, moisturizers, exfoliators, or what have you, there are a few key steps that you need to take when you start a company. Here are the first stages in launching your brand of skincare products.
Identify Your Niche
Beauty products are a massive industry. On one hand that’s good because it means there’s plenty of market share to go around. On the other hand, it means that you’ll have to fight to stand out from the crowd.
You need to isolate some quality that makes your product special or unique. Often the easiest way to do that is to build the product around the consumer base that you want to market to.
Are you targeting ethical, environmentally-conscious consumers? Maybe the luxury demographic? Or are you trying to create a specialist treatment for a specific skincare issue?
Answering this question will help guide your design and branding processes.
Choose a Flagship Product for Your Skincare Line
Over time, your portfolio of products will grow. But in the short term, there’s something to be said for doing one thing well instead of trying to do everything and only being mediocre.
You want to isolate your most exciting product and push that front and center. Make it the star of your brand, and then expand your offerings off the back of its success.
Find a Manufacturer
No doubt you’ve heard of all the inspirational stories about famous brands that were started in someone’s garage or at the kitchen table. It’s a romantic notion, but not a model that’s suitable for the kind of explosive growth that you want to achieve.
No, you’ll want to secure a reliable manufacturer for your product sooner rather than later.
A good manufacturer like BPI Laboratories will be able to produce products at speed, in bulk, and in compliance with the highest regulatory and safety standards.
Build the Brand
Your customers may love a product, but it’s the brand that they end up building a relationship with. To that end, brand identity and recognizability are at least as important as the product itself.
Everything from your name and logo to the color schemes that you use, to your packaging choices, should reflect who you are as a brand. Packaging should be your priority. People are first drawn to good packaging before the actual product so picking a company that delivers premium packaging manufacturing solutions should be on the top of the branding list. If you followed step one by singling out a target consumer, then you should already have an idea of what that identity should be.
Build a Healthy Skin Empire
The skincare market is booming. After spending years indoors and hiding their faces behind masks, people are looking to build back some self-confidence by looking their best. This makes the current moment a unique opportunity to launch a new skincare line.
But these preliminary stages are only the beginning. For all that you need to know to help your fledgling company flourish, be sure to keep up with our latest business news and views.
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