The report, Analyzing the Online Presence of Skincare Brands, “demonstrates practical data-driven insights that skincare brands can use to better understand how their products are reviewed, measure their global reach, monitor the competition and much more,” explains Mihir Kittur, co-founder and chief innovation officer at Ugam, in a media release.
So much information-and product information in particular-arrives in consumers lives by way of digital platforms. “Consumers' increasing reliance on digital product information means that brands need to keep a very close eye on the way their products are presented online,” affirms Kittur.
The analytics advocate goes on to say that this is the “type of intelligence [brands can use] to help plan how they stock retailers, price their products and ultimately drive growth.”
Depth of data
Ugam found, by looking at online data on prominent skin care companies, like Lancôme, Clarins, Estée Lauder, Dior, Chanel, Kiehl’s, and AmorePacific, that analytic information is readily available regarding “online product availability,” “competitive online activity,” “trending products,” online price monitoring, and online global reach.
For instance, when comparing the data, Ugam found that retailers Macey’s and Sephora stock 174 Estée Lauder SKUs. And that’s in contrast to 142 Clarins SKUs, 104 from Lancôme, 60 Dior SKUs, 26 Chanel, and only 25 AmorePacific.
The Ugam report also illustrates how beauty and personal care brands can look at digital data from around the world to assess where they stand in relation to company objectives as well as in comparison to competing brands.
“With data and analytics, brands can get a global perspective of their online portfolio, better understand their products’ visibility across websites in different countries, identify where they are under-represented and where they need to expand their presence, prioritize which countries are important for growth, what products to carry, and so on,” explain the authors of Analyzing the Online Presence of Skincare Brands.
The report also shows that online data can shed light on to the trending beauty products of any given moment. As of March 11, 2016 (when the sample data was collected), Lancôme’s Bi-facial Double-action Eye Makeup Remover was the top trending product, followed by Dior Addict Lip Glow, Lancôme’s Advanced Génifique Youth Activating Concentrate, Advanced Night Repair Synchronized Recovery Complex II from Estée Lauder, and Dior’s One Essential Intense Skin Detoxifying Booster Serum.