The Future of the Cosmetic Luxury Industry in the Chinese Market - Elixir

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[...] Re-thinking Elixir's digital strategy Impact of the crisis and assumptions about digital post Covid-19 During the outbreak, consumers on average did more online browsing and made more online purchases. More than 70% of consumers spent similar or more time browsing skin care products and beauty related content16. Moreover, some local and international brands moved a subsequent part of their services and products online. In order to built direct connections with their consumers, Lancôme, for instance, created an official enterprise WeChat account for its offline beauty advisors17. [...]

[...] Business opportunity The travel ban will give salesperson the occasion spend more time with each clients, thus providing a more personalized shopping experience in tier-two and three cities. This will be challenging considering the limitation in retail and customer service capabilities in these times. Elixir should strengthen its digital and omnichannel offerings, and engaging more deeply with consumers. Conclusion There are four takeaways in this report: - The crisis is an opportunity for change and will likely amplify emerging trends disrupting the market, such as "clean and sustainable beauty". [...]

[...] - Key competitors' actions In its past 5 years on the Chinese market, Elixir has established a robust and differentiating brand identity. Therefore, competitor's actions are only to be considered in the three biggest points of sales in term of sales revenue. Reopening: Reassuring clients is of utmost importance, they should be made aware of all the hygiene and safety measures taken by the shop management to counter the risk of infection. Short term adjustments should be made to ensure the safety of customers and employees. [...]

[...] The Future of the Cosmetic Luxury Industry in the Chinese Market - Elixir We choose to work on the fictional French luxury skincare brand: Elixir, founded in 1991 and bought by the Estee Lauder Group in 2002. Elixir's best seller: the Vitalixir Moisturizer is a Hollywood skin care staple, costing 340 EUR for the 100 millilitres jar. Elixir's success has been fueled by positive consumer reviews and customer dedication. Today, Elixir offers a full range of products for the face and body, along with eye creams and masks, body lotions and a sun protection line. [...]

[...] Elixir could partner with a game developer to launch a limited edition phone game. The game would be constructed around the central plot: in 1989 the secret Vitalixir formula has been stolen from Elixir's laboratory and you have to solve enigmas and games to find the culprit. On social media this game should be advertised with Elixir's facemasks. For instance, while waiting 15 min for the skin to absorb the nutrients of the Vitalixir Intense Recovery Face Mask, consumers can play the deduction game. V. [...]