As beauty consumers get increasingly younger, traditional Indian cosmetic companies are rebranding in a bid to gain valuable market share.
Indeed, many companies are rethinking out-dated formulas and marketing in order to breathe new life into their products and entice a new generation of consumer.
Godrej, for example, has recently changed its powder-based hair dye to a cream product. Why? Because young consumers don’t have a weekend to spend dying their hair, and cream does the job considerably faster than its powder predecessor. And, according to a brand track report by global market research firm Milward Brown, it was a good move. Godrej hair cream (Expert Rich Crème) is said to be selling three times better with 18-25 year olds than its powdered dye stable mate Expert Original.
In cosmetics, Fair & Lovely has created a BB and CC cream to lure the young consumers listening to the voice of beauty bloggers – with these creams being a ‘must have’ item, while L’Oreal has listened, creating a lip balm entitled Baby Lips, no doubt to play on the entry-consumer, said to be aged 15 and up.
Speaking to India Times.com, Devendra Chawla, Group President, food FMCG brands, Future Group, said, “With India getting younger by the day and 55 percent population below the age of 27, an increasing number of brands will work for this age group. It also helps to have them in the brand’s fold early and as loyal consumers for a longer period as their disposal incomes go up.”