News

FIT’s beauty industry think tank presents research, digital imperatives for industry

BY Antoinette Alexander

NEW YORK — The Fashion Institute of Technology’s beauty industry think tank unveiled "disruptive" visions for the future of consumer product marketing as it relates to digital analytics, digital marketing and digital commerce during a Beiersdorf North America-sponsored presentation Wednesday at FIT in New York City.

(Andrew Videira of Beiersdorf digital marketing team at FIT Capstone)

The presentation, titled “Beauty in a Digital World,” was presented by candidates for the Master of Professional Studies degree in the college’s Cosmetics and Fragrance Marketing and Management program. The graduating class annually presents research and forward-thinking predictions and proposals to the industry.

Joe Rospars, chief digital strategist for president Barack Obama’s election and reelection campaign, and founder and CEO of Blue State Digital, gave a keynote address.

This year’s research was conducted in conjunction with Google and with contributions from global digital technology and business experts, with the support of event sponsor, Beiersdorf North America.

"Beiersdorf was honored to serve as this year’s title sponsor of the FIT Cosmetics and Fragrance Marketing and Management graduate program," stated Bill Graham, president of Beiersdorf North America.  "Not only did we celebrate the graduation of two of our company’s brightest managers, we supported a one-of-a-kind program that promotes innovation and unprecedented collaboration within our highly competitive industry. Digital marketing is at the core of our brand campaigns. We look forward to implementing some of the great thinking and research findings to continue growing our brands."

Predictions from the Research:

  • Leveraging artificial intelligence, facial recognition, and predictive analytics technology will revolutionize the in-store experience by completely personalizing it;
  • Motion-activated technology will allow consumers to virtually browse aisles of products located anywhere in the world and make purchases directly from interactive screens in their homes;
  • "Beauty on Demand" will utilize image-, sound- and video-capture technologies to allow consumers to shop for anything, anywhere – with just one click. The street becomes the new shopping mall;
  • Micro-targeting, enabled by data and technology, will allow brands to create highly personalized communications. The result, micro-engagement, will increase individual consumer lifetime value for brands;
  • ROL is the new ROI. Return on learnings (ROL) will replace return on investments (ROI) as a new real-time metric to track and drive brand value;
  • Sensors will be molded into product packaging to track actual consumer usage behavior.

A synopsis of the three key areas:

Digital Analytics: 
With a focus on six key areas of impact for big data, this study shows how digital analytics will help grow the beauty industry’s data-centricity and customer personalization. The white paper develops ways that big data can identify new customer needs, validate concepts, increase nnovation, optimize inventory distribution, track consumption and diversion, and build stronger customer relationships. These categories are applied to a new product launch model called Beauty 2020.

Digital Marketing: 
The power of micro-targeting and micro-engagement in a micro-marketing world is captured in a new media framework called m^3, which highlights marketing’s evolution from sending the same message to all consumers to individualized, personalized outreach conducted in real time on multiple platforms. The study lays out what it takes to succeed in today’s micro-marketing, zero-friction environment, sharing the advances required in media, metrics, and management to win with m^3 marketing.

Digital Commerce
: Using a high tech, high touch new business model that conveys the fluid cycle of commerce, this study explores what it takes to succeed in digital commerce. Its analysis of convenience, curation, and customization provides insights into how consumers will be able to make purchases from anywhere and how brands can sell everywhere. The immediacy of "Beauty on Demand" creates infinite points of sale and instant gratification for customers.


Are you a nurse practitioner or physician’s assistant? Join our Facebook group to get all the latest news dedicated to delivering healthcare services to patients in retail pharmacy clinics.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

CRN defends herbal ingredient Ginkgo biloba

BY Michael Johnsen

WASHINGTON — The Council for Responsible Nutrition strongly criticized the Center for Science in the Public Interest earlier this week as that organization petitioned the Food and Drug Administration to prohibit the sale of Ginkgo biloba.

“Ginkgo biloba has literally been used for thousands of years, and this attempt by CSPI to discredit this safe and beneficial dietary supplement demonstrates an irresponsible misinterpretation of both the science and the intent of the National Toxicology Program in reviewing ginkgo," stated Steve Mister, CRN president and CEO. "This premature evaluation from CSPI reveals an abuse of its position, a lack of understanding about the regulation of food by FDA, and presents a true disservice to consumers. 

CSPI’s request to FDA to ban ginkgo is based on an NTP report examining high doses of ginkgo force-fed to mice and rats. However, in the second paragraph of the report’s Foreword, NTP states: "Extrapolation of these results to other species, including characterization of hazards and risks to humans, requires analyses beyond the intent of these reports."  

In response to CSPI’s request FDA responded: "It is not scientifically valid to conclude with certainty that dietary supplement products containing Ginkgo biloba are unsafe based solely on data from the new NTP study.”

 

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Actavis seeks approval for two generics

BY Alaric DeArment

PARSIPPANY, N.J. — Actavis is hoping to become the first to market generic versions of a contraceptive and a sedative, the drug maker said.

On Wednesday, Actavis said it had filed for approval with the Food and Drug Administration for a generic version of Bayer’s Safyral (drospirenone, ethinyl estradiol and levomefolate calcium tablets; levomefolate calcium tablets), which prevents pregnancy and acts as a daily folate supplement. The filing prompted a patent-infringement suit by two subsidiaries of Bayer and a subsidiary of Germany-based Merck KGaA. The suit places an automatic stay of approval on the generic for 30 months, or until the companies settle the case.

And on Friday, Actavis filed for approval for a generic version of Fresenius Kabi’s Diprivan (propofol) injection in the 10 mg-per-milliliter strength, a sedative and anesthetic. The filing also prompted a patent-infringement suit from Fresenius Kabi.

Safyral had sales of about $19 million during the 12-month period that ended in April, while Diprivan had sales of about $212 million during the same period, according to IMS Health.


Are you a nurse practitioner or physician’s assistant? Join our Facebook group to get all the latest news dedicated to delivering healthcare services to patients in retail pharmacy clinics.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES