The Era of Niche
The influx and rapid growth of smaller but increasingly influential niche brands, across both the luxury and mass segments, is currently transforming the competitive landscape.
“Niche brands’ unique product proposition, ‘fast-fashion’ approach to innovation and more experiential nature should serve as an inspiration for bigger multinational brands to tap into more unexplored areas for growth, either through acquisition and expertise expansion or reinventing their own existing offerings,” says Barbalova.
She adds that the trend for ‘niche’ is also manifesting itself through disruptive innovation concepts, such as novel product textures - such as hair-styling powders and air-cushion technology - or application formats which provide more convenient solutions – such as in-shower self-tanning and spray nail polish.
