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Beauty for All: The Future of Prestige at Mass
By: Alison Aidlin, Elizabeth Del Pozo, Devin Homsey, Anahita Mekanik and Liza Rapay
Posted: August 26, 2011
The 2011 graduates of the cosmetics and fragrance marketing and management masters degree program at the Fashion Institute of Technology (FIT) in New York presented their Capstone presentations at the Beauty For All: Innovations in Mass Retail event and reception, sponsored by Target, at FIT’s Haft Auditorium in May. The following white paper accompanied the presentation from Alison Aidlin, Elizabeth Del Pozo, Devin Homsey, Anahita Mekanik and Liza Rapay.
Shifting Consumer Demands
- From Needing Stuff to Demanding Experiences
- Conformity to Customization
- Plutocracy to Democracy
- Wanting New to Wanting New + Now + Everywhere
- Self to Community
Consumers are in control and we need to listen. In their eyes, the lines between mass and prestige are more blurred than what we see. As the demand side shifts, we must cater to consumer needs and build a symbiotic relationship where retailers, manufacturers and brands, can benefit from one another. As Mindy Grossman of HSN said, “The days of trying to get a consumer to come to you are over. You really have to be in the consumer’s world, wherever, whenever and however.”
The Mind & Heart Connection
It’s no longer about the physical connection of products or services. What’s important is building the mind and heart connection. We define this as neuro-emotional connectivity. Just as we pay $4.00 for a cup of Starbucks coffee; it’s not just coffee, rather it’s a home away from home experience.
Prestige in Mass
Our goal is to strengthen the consumer connection in-store and online by offering prestige in the mass environment and presenting a little something unexpected.
Merchandising: Understanding how a consumer shops in a particular store is key. How do we draw her to beauty? This is a huge opportunity where the retailers and brands can leverage each other’s strengths.