Welcome to our dynamic beauty insights capsule series, where we highlight the transformative potential of beauty categorization. In this first installment, we dive deep into the captivating world of makeup. In addition to that, we have upcoming blogs dedicated to skincare and haircare.
This beauty insight will equip you with the expertise to understand how strategic categorization can significantly impact your brand's performance. Nevertheless, whether you are launching a new line of products or seeking to boost your brand's visibility, harnessing the power of beauty categorization is the key to unlocking exceptional growth opportunities.
Makeup Product Categorization
Makeup is dominating the beauty subcategory scene in Q1 2023 due to its unprecedented buzz, surpassing even skincare and haircare.
Moreover, the digital age has revolutionized the beauty industry. Social Media and Influencers now play a pivotal role for remarkable growth across all beauty categories, including makeup. Trends like "mid-tone blushing" on TikTok and #coquetteaesthetic have gained immense popularity, with the latter amassing over 1.8B views. Consumers actively engage with Influencers who possess expert knowledge in makeup techniques, establishing themselves as credible sources. Remarkably, in Q1 2023, Influencers generated $785M in MIV® for beauty brands, making them the dominant Voice in makeup.
To maximize impact, brands in the makeup sector should align their message and product ethos with these influential voices. Therefore, it is essential to leverage the power of social media and collaborate with Influencers to stay relevant.
This knowledge is crucial for seizing opportunities and shaping effective marketing strategies. Additionally, by better understanding the most impactful Voices, brands can unlock substantial improvements within the makeup category. These Voices, such as Media, Influencers, Celebrities, or Partners, amplify brands' makeup products' message.
Moreover, by embracing the power of product categorization, brands gain a profound understanding of their performance. Consequently, they can navigate the beauty market with confidence and create a lasting impact that resonates with their target audience. Furthermore, this strategic approach allows brands to stay ahead of the competition and adapt to evolving consumer preferences.
10 Beauty Brands Dominating Makeup Coverage by MIV®
The infographic below displays the ranking of the ten beauty brands in Q1 2023 with a focus on makeup.
For this beauty insight blog, we used our proprietary algorithm, Media Impact Value® (MIV®), to measure and benchmark the impact of all media placements and mentions across various Voices. Moreover, these placements factor in social media posts and articles related to specific search queries, as well as consumer interactions with posts, such as tags and comments. Lastly, it provides a snapshot of some brand's performance in comparison to others in the industry, allowing you to identify opportunities for growth and maximize your impact.
Subcategories in Makeup Coverage
Embracing a granular approach to product categorization is no longer a luxury but a necessity for beauty brands to thrive. For one, McKinsey's projections indicate substantial growth across various beauty sectors. So as the definition of beauty expands beyond traditional offerings, brands must understand the key subcategories within makeup coverage. Doing so will help brands capitalize on new business opportunities, emerging trends and consumer preferences.
The convergence of wellness and beauty presents a transformative opportunity for brands. With the global wellness industry soaring at $1.5T, consumers are seeking products that promote holistic well-being. From ingestible supplements to mindfulness-infused lotions, wellness-inspired beauty products are gaining traction. To seize this moment, brands need to dive deeper into product categorization. This means tailoring their offerings to align with the evolving demands of health-conscious consumers.
By having a more detailed understanding of makeup subcategories, brands can even anticipate shifts within the industry. This knowledge empowers marketers to craft targeted messaging and form strategic influencer partnerships for specific subcategories that hold immense growth potential. Consequently, brands position themselves as industry leaders and capture the loyalty of consumers embracing the wellness-driven approach to beauty.
Deep Dive into Makeup Product Categorization by MIV®
In this exciting era of beauty and wellness fusion, unlock the power of granular performance data. This starts with navigating the extensive world of beauty with up to 54 industry sub-categories at your disposal. From eyeshadows to lipstick or concealers, gain invaluable insights into your brand's performance within each category. Uncover untapped opportunities in your most successful product lines. In addition, strategically allocate your marketing budget, and benchmark your brand against competitors to drive growth.
Navigate the extensive beauty landscape and identify emerging opportunities. Through strategic actions and a deep understanding of your product's standing, you'll ignite your brand's success and make a resounding impact in your targeted space.
Equip yourself with the knowledge to make informed decisions, seize growth opportunities, and establish your brand as a force to be reckoned with. By understanding your product's standing within the industry and leveraging this knowledge to drive strategic actions, you can ignite your brand's success and make a resounding impact in your targeted space.
Performing Brands by Subcategories (MIV®)
Discovering the power of makeup subcategories for this beauty insight, we analyzed brand performance across various categories like lips, complexion, and eyes. Some brands consistently dominated the top ten rankings, including Charlotte Tilbury, Mac, Nyx, Dior, and more. However, what these rankings reveal is that while a brand may excel in one product category, their coverage may not be as strong across other product lines.
Unlocking the full potential of your brand requires a considerate understanding of how each makeup subcategory performs. By delving into the nuances of lip-related products, complexion essentials, and eye-enhancing offerings, you can strategically position your brand for success. Uncover the gaps in your coverage and identify areas where you can further enhance your brand's performance.
To gain a better understanding of your brand's true potential, exploring the intricacies of each subcategory and strategically aligning your marketing efforts is a good start. Deep diving into the top-performing placements within each product category to grasp the significance of comprehensive product knowledge and its impact on your success.
Top Placements by Subcategories (MIV®)
In terms of top placements, the leading one is an Instagram post by Sadie Sink, the talented actress from Stranger Things, showcasing an Armani Beauty lipstick. This single placement generated a staggering $1.1M in MIV®.
Continuing the trend of lip product excellence, another noteworthy placement features Armani Beauty in an Instagram post by the esteemed Sydney Sweeney. With her influential status, this collaboration yielded an impressive $708K in MIV® for the brand. Let's not overlook the impact of Lili Reinhart's reel, once again highlighting an Armani Beauty Lipstick and generating a substantial $566K in MIV®. These remarkable partnerships with A-list celebrities underscore the immense potential for brand triumph.
However, the persuasive voice of Influencers cannot be undermined either. One notable example is Mikayla Nogueira, an American influencer renowned for her makeup tutorials on TikTok and Instagram. One of her makeup tutorials featuring the Maybelline Foundation on TikTok amassed an outstanding $629K in MIV®. As her loyal followers seek her advice and recommendations, she becomes a powerful advocate for brands in the makeup category.
Ultimately, aligning your brand with the right Voices, whether through A-list celebrities or influential social media personalities, is crucial for your brand’s performance to grow in this complex beauty landscape.
Beauty Insights│Maximizing Your Beauty Brand's Impact
In today's fiercely competitive beauty industry, staying ahead of the curve is essential for success. Through our dynamic beauty insights capsule series, we continuously look at the transformative potential of beauty categorization. As we conclude this first installment, we invite you to deep dive into your brand’s individual product performances to better understand their standing and make informed decisions to establish a lasting impact.
Stay tuned for next two installments of our beauty insights capsule series with upcoming blogs dedicated to skincare and haircare. By embracing the power of makeup subcategories, you'll gain a profound understanding of your brand's overall performance. Navigate the extensive beauty landscape and identify emerging opportunities. Through strategic actions and a deep understanding of your product's standing, you'll ignite your brand's success and make a resounding impact in your targeted space.
Beauty Categorization Platform in Action
Watch the recording and equip yourself with the tools you need to succeed in the beauty industry. This will not only help you drive growth but also take your brand to the next level.
By Charlotte Gillet. Business Marketing Coordinator
Based in London, Charlotte is a Marketing Coordinator at Launchmetrics. Passionate about creating inspiring content, she recently graduated from UCL with a MA in Publishing. Invested in learning more about the businesses of Fashion, Luxury, and Beauty worldwide; she is excited to explore the ever-changing landscape of these industries.