Podcast 206: Is the beauty industry really saturated?

Today, when beauty standards and consumer expectations are constantly evolving and increasingly demanding, the question of whether the beauty industry is saturated seems more relevant than ever. With sustainability a key word on every consumer brand’s agenda, even if they only pay lip service to it – as we found in our recent greenhouse polish episode – should we be worried that some beauty brands are closing up shop?

The underlying question here is whether the beauty landscape is simply too crowded in a changing consumer climate. Last week, we explored the sophisticated world of beauty retail with industry expert and analyst Wizz Selvey, shedding light on the unexpected turn of events for The Body Shop.

This week, Formula Botanica CEO and podcast host Lorraine Dallmeier delves into this topic, surveying the beauty industry landscape to ask if there’s still room for innovation and new brands.

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Inspirational Quote:

“So is the beauty industry really saturated? And the answer, of course, is no. Brands will always come and go, but they will only enjoy longevity if they are constantly innovating and improving – and many of them simply won’t be able to do that, and that creates huge gaps in the market for new brands to enter.” – Lorraine Dahlmeier

Basic foods include:

• The evolution of beauty standards: The landscape of the beauty industry is one of constant change. When brands don’t constantly innovate, as seen in the recent case of The Body Shop, they run the risk of going out of business. Lorraine discusses how staying relevant through innovation is not just a strategy, but a necessity for survival and success.
• Opportunities for newcomers: Despite appearances, the beauty industry is far from saturated. There are many opportunities for brands that can bring fresh perspectives, innovative products and a strong vision for change. The key lies in differentiation and understanding consumer desires.
• The importance of innovation: Drawing parallels with iconic brands such as Lush, this episode highlights the critical role of innovation in maintaining relevance and competitiveness. As the industry grows, the appetite for new and sustainable beauty solutions intensifies.
• Tribute to the pioneers: Reflecting on his legacy Dame Anita Roddick, we remember the power of beauty activism. New brands have the opportunity to not just capture market share, but to continue the mission of making the world a better place through sustainable and ethical beauty.

There is a wealth of information in our old episodes and we encourage you to go back and listen to them. If you want to learn more about some of the topics we cover in this episode, check out the podcast archives again. Go and listen:

Episode 151: The History of Slavery in Soapmaking – how a beauty company was created on the back of history and is an activist and campaigning entity.
Episode 145: The 9 Limits of Planetary Care – the minimum framework within which businesses must operate to ensure the sustainability of the planet.
Episode 197: Skincare for Racial Equality – how one woman went on a mission to cultivate the science of 4.5.6 skin types for a more inclusive, fair cosmetics industry.

Thank you for joining us on this episode of the Formula Botanica Green Beauty Conversations podcast. If you enjoyed listening, please share, subscribe and review this episode at iTunes, Spotify the Youtube so that more people can enjoy the show. Don’t forget to follow and connect with us at Facebook, Twitter and Instagram.

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Lorraine Dallmeier is a biologist, certified environmentalist, and CEO of Formula Botanica, the award-winning online organic cosmetics school. Read more about Lorraine and the Formula Botanica team.