What if we played the market?

Child, I spent hours playing at the grocery store with my sisters. To prepare the shelves, clean the tomatoes, green beans, oranges and then put them away … vegetables on one side, fruits on another. I loved my shelves to be clean and well ordered. Everything in its place by a clear logic.

Years later … at the end of several very recent appointments with French and UK retailers, I say, finally, we should all continue to play the market!

Emerging cosmetic brands creators that I meet arrive with lots of ideas on their concept, product formulas and the ingredients they want to use. They have spent time on the internet for market surveys, finding numbers that will convince bankers and preparing good visual presentations. But, among them, who did tour the distribution? Spending time at departement stores and perfumeries to identify the logic of each retailer? To understand how products are displayed? To listen to the beauty consultants sales pitch? To decide on what the best location should be? To finalize their brand unique catch phrase? To work on the merchandising? Very little in the end. Some of them end up thinking that if they won their bank agreement, completed formulas and packaging, their brand is ready to be launched.

And then I meet, in consulting, many of these young creators who enquire about distribution while their brand concept is finalized … But should we not think about it from the beginning? What is my brand universe? With whom do I want my brand to be displayed? How? How will beauty consultants talk about my brand? What should be the price level? How will I support the sell out? Who will visit the doors? Who will train and promote my brand on the floor?

These questions are the ones that the distribution will ask. Because when a young creator thinks concept / market survey / formulas / orders (sell in), a buyer thinks location / merchandising / point of difference / resale (sell out). The buyer will wonder : where shall I put this new niche brand? How will it differentiate itself from others? Is its story strong enough to speak for itself? Is the product understandable without outside help? Am I right to buy this new emerging brand? What kind of turnover can it achieve?

Playing the market is integrating the distribution from the start in one’s reflection of brand creation in order to maximize opportunities to find adequate retailers. It will not do all the job because then we will need to work on brand sell out and that will be the beginning of another exciting adventure. But it will be at least a good start.

Then, what if we played the market? At Mission Beauté, we love that game ! Read the rest of this entry »