revenues for Glossier has been reported to up to 600% year over year, with its customer base tripling over the past 12 months. how does Glossier continue to succeed?
Glossier positions itself as the antithesis of big beauty conglomerates: Glossier celebrates diversity, difference and individuality.
By responding to millenials’ need for a beauty brand with a minimalistic approach, Glossier’s skincare first, makeup second methodology, captured this segment and their purchasing power. Glossier leveraged these drivers to their advantage and it has allowed them to become one of the most successful beauty brands in the industry.
Unlike other beauty companies, Glossier does not rely on supply chain management to get their product into their customers’ beauty shelves. By owning the bottom part of the sales funnel, Glossier does not rely on anyone to make the sales on its behalf.
Glossier is innovative unlike other brands because they have extended their reach and awareness through its digital content via their blog, Into the Gloss, Instagram and Twitter, as well as in-real-life experiences in their two permanent, physical stores in New York City and Los Angeles. Glossier continues to innovate upon the in-real-life experience by having pop-up shops globally in London and Paris and nationally in Chicago.
Former rules of the beauty industry included building a large facebook following, but in 2014, before instagram amassed to the social network it is today, Glossier made the decision to make Instagram its home base because that is where the trend is today and there is more freedom and resources. Glossier made the right decision because having the liberty to do as they want is one of Glossier’s main values: freedom.
As a newer brand, Glossier can start afresh and has the ability to adapt quickly. On the other hand, big beauty conglomerates that have existed for decades have a challenge to adapt to today’s modern marketing techniques. As these beauty conglomerates are huge in size compared to Glossier, they are more conservative in making changing and more distant from their customers, but if they don’t adapt they will die out because they are no longer relevant.