Participation de Mme Sharma Rapporteur a uneréunion avec NidhimaKohli de My Beaty Watch le 06/05/2016 à Londresdans le cadre du dossier CCMI/143
Report
Subject: Input of Consumer Insight into CCMI 143
My Beauty Matches (MBM) is a consumer-facing data-analytics company which utilises disruptive technologies to maximise consumer cosmetic and beauty product sales whilst at the same time collecting invaluable market data for use by the beauty industry. The company is the first company in the cosmetics and personal health care sector to be able to offer real-time, beauty e-commerce data at a hyper-personalised level.
MBM’s smart technology has built a marketplace for consumers to not only buy beauty products online from multiple retailers, a world first, but also to unlock personalised recommendations. Through the creation of a targeted, consumer focused, individualised quiz, MBM is able to collect bespoke market research and consumers are able to receive instant relevant recommendations for their specific skin and hair care needs. The quiz allows MBM to gather instant insights on the consumer’s shopping habits, demographics and latest market trends which are currently unavailable on any other platform in such high numbers.
To date MBM has collected over 3m consumer data insights and has despite being a start-up company has received numerous awards and accolades. The most recent award was “Start-up of the Week” 2016 Retailer Week as well as being appointed the innovation award “Digital Game Changer for the Beauty Industry” by leading news provider in beauty, WGSN. Other awards include “Start-up of the Year 2014” The Guardian, “Elevator Pitch” Tech City News 2014, “Almanac” Tech City Insider 2015. Additionally MBM has received significant PR in major publications such as Forbes, The Telegraph and Vogue.
Nidhima gave me some really valuable insights into consumer activities and concerns but her greatest concerns are those of transparency and the lack of support for small companies in the sector.
There needs to be rules around advertorial. Consumers think only the add pages are paid for but so is content now. For instance on a website it might say these are the best 5 new yellow nail polishes but they are all from the same seller that has many different brands. If it is paid it should be made clear. Also vloggers and bloggers are the biggest driving force and everyone thinks they offer real advice however they are 99% of the time paid. They should make this clear and also include this. Currently they only include it if they use a script given to them however a paid add is a paid add and should be made clear to the consumer.
Big brands get bigger and small brands get smaller. The bigger brands pay for all journalists in big publications to go ski on expensive holidays or other holidays, receive Birkin bags, a weekend away in the spa resorts etc so that journalists write about them. Only big brands have these budgets to pay journalists or vloggers (video bloggers on Youtube) for these items and should be avoided. Smaller brands which are just as amazing have the equal chance as the bigger brands to be discovered (this is why on My Beauty Matches do not bias over any specific brand)
On animal testing - some companies are often shamed for animal testing but many of them don't do animal testing and have amazing technologies to develop fake skin. However animal testing becomes essential to them if they are looking to sell in certain countries where it is a must i.e. China
Nidhima pointed out that many perfumes have highly toxic and cancerous ingredients which pregnant women should not use. This should be clearly labelled on the packaging. Cigarettes have clear signs but beauty product ingredients use words only understood by scientists. -Things are made more clear. Her suggestion would be that the packaging must have a box under the ingredients section which says ticks or crosses near the words parabens. She also highlighted that some companies run breast cancer awareness and also sell products which have ingredients that have cancer in them – so ethical/CSR policies should be challenged where necessary.
Nidhima will support me on reviewing the next drafts and also on promoting the report at events where she is speaking to engage the EESC with speaker opportunities also. I will work with Nidhima to find a possibility to promote the final report through her newsletter.
Please do not hesitate to contact me for any further information .
Copies: Section CCMI
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