WHAT IS SUSTAINABILITY ? AND WHAT IS 4 DIMENSIONAL SUSTAINABILITY ?

 

As such there is enough fluidity about the word Sustainability. And four dimensional sustainability is further making it complex. So what is sustainability and what is 4D about it ?

SERUMS ! True Beauty Innovation or a Mere Psychological Game ?

Skin care and Serums:

Skin care is about 3b$ category In India. And said to be Growing at a CAGR of 14%.

Of  which, Serums is one of the Fastest growing Beauty categories. It's growing nearly double the pace of the rest.

Serums have emerged as the largest category online, in the last couple of quarters in Skincare. 

And it's believed that 43% of the global growth of Serums would originate from APAC.

Key penetration of SERUM is in the US, China, Japan, Germany, and India. Largely because of the varying climatic conditions and evolving knowhow.

There are more than 50000 skin care products available on Amazon India....10000 plus are serums... they are accounting for a very large share of business now.

As ecommerce companies invest in the same, there are 100 plus serums which are made only for Amazon as of mid of 23.

On Nykaa, Premium and international brands have more than 2000 + Serums and essences available,

Last decade has seen an over supply of beauty products of all sorts. From lots of  existing and new brands. This leads to a trust deficit. Serums address that need.

Serums are one of the Fastest growing Beauty categories. It's growing nearly double the pace of the rest.

Online, Serums have emerged as the largest category in the last couple of quarters in Skincare.

What IS Serum ?

Serums are typically made with a high concentration of active ingredients, which means that they can deliver more benefits to the skin than other beauty products, such as moisturizers and sunscreens. They are also designed to penetrate deep into the skin, where they can work to address specific skin concerns.

Question :

Serums are a success, that is given.  And now the most important question, Is it a true Beauty innovation or a mere psychological, marketing gimmick ??

Marketing and Psychological angle.....

What led to the usage of the word Serum. What does it mean to the consumer ?

• The word "serum" has a medical connotation. This can make consumers think that serums are more effective than other skin care products.

• Serums are often marketed as being "clinically proven" or "dermatologist-tested." and Serums are often packaged in small, expensive bottles. This can make consumers think that serums are more potent and concentrated than other hair care products.

• Serums are often used in conjunction with other skin care products, such as shampoos, conditioners, moisturizers, sunscreens. This can give consumers the impression that serums are an essential part of a complete skin care routine.

History of Serums

Last century, plant extract Serums were used by Dermatologists for clinical use. However in early 1900 some of the cosmetic companies started to use the technology and serums reached consumers in small way. After 1970, momentum picked. And further accelerated in last decade.

• In 1905, the French cosmetics company Guerlain introduced a serum called "Elixir Vital". This serum was marketed as a way to revitalize the skin and reduce the appearance of wrinkles.

• In 1910, the American cosmetics company Elizabeth Arden introduced a serum called "Eight Hour Cream". This serum was marketed as a way to protect the skin from the elements and prevent dryness.

• In 1971, the French cosmetics company Lancôme introduced a serum called "Advanced Genifique". This serum was marketed as a way to reduce the appearance of wrinkles and age spots.

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Skincare Innovation Getting specific to problem solving.

Constant research has proven that Different skin types need different serums. Dry, Oily, Medium skins need different treatments. And then research has made different , specific, customized, chemical compositions to solve for the common problems like :

1. Dark spots and Pigmentation :

Serums can help to lighten dark spots and uneven skin tone by reducing melanin production.

2. Acne and Blemishes : 

Serums can help to control acne by reducing oil production and killing bacteria.

3. Dullness and Dryness : 

Serums can help to hydrate the skin by providing it with essential moisture.

5. Anti Ageing : 

Serums can help to reduce the appearance of wrinkles and fine lines by stimulating collagen production.

6. Night repair : 

Serums exfoliate and repair through the night. 

Serums today :

Serums today are led by a couple of chemicals and their intricate combinations. While such complex chemical and biological terms could be overwhelming to the consumer. But that could also be the intent of the brands.

Hyaluronic acid:

Hyaluronic acid is a natural substance that helps to hydrate the skin. It can also help to plump up the skin and reduce the appearance of wrinkles. Couple of best selling ones are .... 

Eg. .L'Oreal Paris Revitalift Hydrating Serum With 1.5 % Hyaluronic Acid ;  Minimalist 2% Alpha Arbutin Face Serum With Butylresorcinol & Ferulic Acid For Hyperpigmentation

Vitamin C: 

Vitamin C is an antioxidant that helps to protect the skin from damage caused by free radicals. It can also help to brighten the skin and reduce the appearance of dark spots. Couple of best selling ones are.. 

Eg Plum 15% Mandarin & Vitamin C Serum Glow Boost ; Minimalist 10% Vitamin C Serum For Face For Illuminating Skin For Beginners

Retinol: 

Retinol is a form of vitamin A that helps to stimulate collagen production and reduce the appearance of wrinkles. Couple of best selling one are…

Eg,Estee Lauder Advanced Night Repair Synchronized Multi-Recovery Complex With Hyaluronic Acid (Serum)  ; Minimalist 0.3% Retinol Face Serum For Anti Ageing With Coenzyme Q10

Niacinamide: 

Niacinamide is a form of vitamin B3 that helps to brighten the skin and reduce the appearance of uneven skin tone. Couple of best selling ones are…

Eg,Minimalist 10% Niacinamide Face Serum With Matmarine + Zinc ; The Ordinary Niacinamide 10% + Zinc 1% ; Plum 10% Niacinamide Face Serum With Rice Water 

Peptides / AHA:

Peptides are small chains of amino acids that help to improve overall health and appearance of the skin by stimulating collagen production and reducing inflammation. Couple of best selling ones are…

Eg, Minimalist 25% AHA + 5% PHA + 2% BHA Peeling Solution For Instant Glow & Soft Skin ; The Derma Co. 15% AHA + 1% BHA Peeling Solution for Beginners

Salicylic Acid :

It Shed off dead skin cells from the top layer, decreases redness, reduces excess oil, and unclogs pores. It also helps treat other skin care issues caused due to adverse environmental conditions like dryness and scaliness. Couple of best selling ones are…

Eg. L'Oreal Paris Revitalift Crystal Micro-Essence With Salicylic Acid ;Minimalist 2% Salicylic Acid Face Serum For Blackheads & Whiteheads ;Garnier Bright Complete 30X Vitamin C Booster Face Serum with 2% Niacinamide + 0.5% Salicylic Acid

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Future of Serums:

Increasing use of natural and organic ingredients is another factor supporting the facial serum market growth in the forecast period.

The increased focus on health and wellness around the globe has also left its impression on the beauty and personal care industry. Natural and organic products are emerging as important product segments in the market as consumers are now shopping with a conscience.

Moreover, consumers consider these products safer than regular products, which may contain hydrofluorocarbons, formaldehyde, fragrances, and micro-particles of other ingredients. Moreover, manufacturers are developing natural and organic cosmetics products to cater to the growing number of consumers who are avoiding products with synthetic components.

Organic and Natural ingredients like Vitamin E, A, B1, B2, B6, C, Minerals, carotenes, Antioxidants, essential fatty acids, and organic oils such as Borage seeds, Roseship, Jojoba, Coconut are emerging as fast growing options.

For instance, Maine Chaga Age-Defying Face Serum , uses a unique mushroom formula with high antioxidants and amino acids. The formula also contains melanin and betulin that, generally, vitamin C serums do not contain.

Conclusion :

Positioning the skin care solution as medically derived has helped brands to gain consumer trust. And increasing the margins in the business. However, the rapid rise in the consumption is evidence of serums working for consumers and hence the power and authenticity of the innovation.

Why We Buy What We Do: Exploring the Psychology and Culture of Fashion

 

Why We Buy What We Do: 

Exploring the Psychology and Culture of Fashion

Fashion is much deeper connected to our psychology, culture and Identity. 

It may look frivolous and incidental as what we wear..... However, it's deeply connected to the gender, age, nation, time, culture, mood, situation etc.... 

It's about two decades now that I have been creating, merchandise and Brands... And I am getting more convinced that psychology of buying and fashion is very deep. And not much content is available on the same. Ecommerce has started to pour in some data on consumer and the pattern of buying, which is establishing fuzzy yet interesting psychological rationale. 

Breaking the reasons simplistically. While it's much more than that....

Self-Expression:

One of the primary ways in which psychology influences fashion is through the concept of self-expression. People use their clothing and appearance as a way to communicate their values, personality, and identity to others. This can include everything from the colors and patterns they choose to wear, to the types of clothing and accessories they select. For example, someone who dresses in all black may be communicating a sense of sophistication or rebellion, while someone who dresses in bright colors may be trying to convey a sense of playfulness or creativity.

People use their clothing and appearance as a way to communicate their values, personality, and identity to others. This can include everything from the colors and patterns they choose to wear, to the types of clothing and accessories they select.

Social Comparison:

Evident ways in which psychology influences fashion and buying is through the concept of social comparison. People often look to others, particularly those in their social circle, for cues on how to dress and present themselves. This can be seen in the way that certain styles or trends become popular within certain social circles or communities. For example, a group of friends who are all interested in skateboarding may dress in a similar style, with baggy jeans and skate shoes, as a way of signaling their shared interest and belonging to the group.

Perception Manipulation:

Politicians wears white, color of serenity, truth, peace, divine... while they perhaps are most corrupt, anxious, insecure, brutal and materialistic group of people.... How opposite...?! They use garments as perception manipulation. People wear blue in interview, color of truth and reliability, while what is gets exchanged in interviews is seldom completely honest. Perception Manipulation!

People manipulate their own emotions as well. If one feels dull and low, they wish to wear bright colors, body hugging clothes, which manipulates their own subconscious mind into believing that All is well!

Cultural Background :

India has Pagdis ( Head gear) of various color types, length etc... it comes from the cultural background of a person.

Lots of what we wear is influenced by personal values and beliefs as well, beside the affinity towards one's historical past.

In my view, Brands which brings the culture and past together in form of Garment, becomes very desirable. Example being Manyavar, FabIndia, Anokhi, Suvasa, Tasva etc.. these brands have clear story to tell. Playing on Nostalgia and cultural affinity. Like a lady would be willing to spend 30k on a silk sarees, rather than using cheaper options. This irrational behavior is outcome of cultural past.

Overall,

We know that role of psychology in fashion is multifaceted, and it plays a significant role. As in,how people use clothing and appearance to express themselves, connect with others, and manipulate their own and others' perceptions and emotions.

It is also an important area of study for those working in the fashion industry, as it helps to inform the development of marketing and branding strategies that are effective at reaching and appealing to consumers. It perhaps is most important study to be done by Industry. And for sure least invested into.

I hope that soon we would be able to use data and AI to interpret the psychology of Fashion. And culture bias weightage in forecasting, merchandise creation and Brand Building.

More about the Topic:

One of the basic book on this subject is : the Psychology of Fashion. Carolyn Mair

A good read about the topic are : 10 Things to Know About the Psychology of Fashion - Online Psychology Degree Guide

Fashion Psychology - MIchael Solomon - Consumer Behavior & Marketing Expert

A good book on the subject is : psychology of fashion - Bing images

EVOLUTION OFCONSUMER AND BRAND BUILDING

 

 

As the consumer needs or the sales platforms changed, so did the methodology to create the lifestyle brands. Lifestyle Brands started to take prominence 25 years back. And since then, every 5 years, the brand building process has become more challenging.

While there could be deviations, however, here is how the majority of the brands saw their success.

 

Quality: 

Most powerful brands, especially in the apparel / lifestyle stage, have been around for 20 odd years. That was the time, where brands were made by offering tangible quality better than the unorganized market. Quality was the main differentiator!

Arrow came from Arvind Mills, Louis  Phillippe, VanHeusen, Allen solly came from Coats Viella, a yarn company. The strength to leverage for brands was the ability to produce better quality.  Other examples being FabIndia, Bata, Muftijeans, Adidas, Park Avenue, Colour plus,   etc.

 

 Quality + Price: 

Consumers assumed quality as a given aspect of a brand. Then they started to seek quality at an attractive price. 10-15 years back, national Brands were created through an anchor of price.

Large format stores played a large role in the same. Melange, rangmanch, CODE, Aurelia, Duke, campus, Peter England, John Players etc emerged and became prominent brands quickly. 

 

 Quality + Price + Convenience: 

Ecommerce came into India about a decade back. It was a new and powerful channel of sales. Growing at a very fast pace. And still expected to grow at 25% CAGR for next couple of years. It opened another platform for Brands to be created.

Next set of brands are coming from the ecom sector. Where the large opportunity gave wings to labels who were willing to make fashionable supplies, at attractive prices, and help consumers look good. They relied on the styling, fashion, better looks over better quality etc. Wrogn, Shree, Asin, HRX, Roadster, Imara,  Symbol, Abof , Anouk, etc. And these brands became large and desired in a very short period of time.

  

Quality + Price + Convenience + Instant Fashion. 

Consumers got more educated and more demanding. They were expecting the hot fashion off the ramp walks, in their wardrobes in no time. Data centric, AI driven brands started to show up.

The Task was tough. Yet, markets responded and created a very nimble and agile supply chain which was ready to experiment with smaller quantities and then make larger quantities of best sellers. India brought real fast fashion to their consumers. And these brands were able to give a tough fight to international brands/ formats. Now the fashion has become instant. Faballey, Indya, Moda Rapido, Highlander, Tokio Talkies, 20 Dresses, The garage company etc.

 

 Quality + Price + Convenience + Instant Fashion + Community endorsement.

With such rapid influx and creations of brands, and the incessant messages, notifications, pop ups, consumers have become confused and suspicious, as to whom to trust and what to buy.

Efficacy of direct marketing has dropped and surrogate / indirect marketing has improved. Influencer marketing, user generated content, Video commerce, Live commerce, social commerce are all originating from the need of consumers to get suggestions from people they can trust. 

They could be fashion experts with a fan following upto a million. Or designers with a couple of millions of insta followers, or tik tok / chingari artists, who in pursuit of promoting themselves also promote the brands as well… Friends also take opinions on whatsapp / social media… Collaborative buying is the new trend.

Shien is a one of the glaring examples. 13b worth of sales, and more than 100b market capitalization. Shien created an agile supply chain of fast fashion and then leveraged social video platforms, Tik Tok, YouTube, Influencer Instagram to become a brand / site of choice. It’s banned in India. However in the US, every third person is an active user. 

Large ecom portals have invested into social commerce, like Meesho, Dal share,  M Studio by Myntra etc. Also, last year Nov,  M live by Myntra started to attract consumers, Flipkart came into Video commerce through Moj etc, early this year.

In these times, chances are that the Brand's life is shorter. And the brands would emerge faster. However they may give space to new brands quickly. So, what would be needed?

Brands would have to develop deep insight in storytelling, community building, consumer service, brand with purpose and consumer generated content which should be authentic and raw. Brands would have to learn new ways to land an enticing story with the consumer. And the story which consumers can be proud of.

Brands would also have to keep on developing a supply chain which is Nimble, cost effective and maybe digitized. Given the amount of developmental work required, either brands would have to invest in the designing and sampling facility or enroll and enable the manufacturers to do the same. Speed has become immensely important.

Indian factories have not invested enough in the capability of quick and wide sampling and smaller lines. And hence there are few factories which are gaining from their professional / new adaptive approach. Factories can possibly create agile setups which cater to this demand.

It’s difficult to replicate the Shien model in India, because of the limitation of an inflexible supply chain. 

India has shown incredible innovation in ethnic space, from Surat, Jaipur, Kolkata…. However, quality and consistency remain a concern. In my personal view, If these sectors also build predictability of quality and delivery, India will churn out a couple of very large brands in times to come.

Metaverse has started to impact the brand creation process. And the digital avatars of Models, garments may end up creating new ways of digital brand creation. Perhaps, Future of brand creation would be even more fun and interesting.