The world of Luxury/Cosmetic Products is ever-growing. The demand for such products is booming, especially within the Asian Markets including China and Japan. L’Occitane is one of the global super-forces within the Luxury/Cosmetics Industry, with annual revenues of approximately $1.1 billion as of 2016 (L’Occitane, 2016). Revenue growth on the Asian continent alone is just short of $280 million, up by approximately 4.1% from March to June 2017 (GCN, 2017). For many organisations, one of the fundamental strategies for maximising and maintaining growth has been to address the Asian Market. The expanding middle class has meant that by 2020, Chinese customers alone are expected to add approximately 40% in value to the Luxury/Cosmetics market (EY, 2014). Interestingly, within this market;
“Amid a lack of brand loyalty, a desire for higher-end and more unique products, and an increasing demand for a digital channel, the right mix of wholesale, retail and online for the China market is no longer clear” (EY, 2014).
It has become clear that developing key sales and marketing strategies for these markets will ultimately decide the future for companies within the industry. The UWI Label perfectly addresses the demand for product uniquity by providing multiple features and benefits that other products do not, including:
- Clear, simplistic and universally understood design.
- Automatic activation.
- Tailor-Made to match your product/brand.
- Reduces waste within your operations and amongst your consumers.
The above features help to encourage brand loyalty and repeat purchases. Asian customers with substantial disposable income will appreciate the differentiation that products bearing the UWI Label come with. This means they will also be more willing to pay a higher price for products bearing the UWI Label. This means that the label itself comes at a perfect time for Cosmetics Retailers aiming to gain a foothold in a thriving industry for many years to come.