Market demand for NARS:
1. A wide range of target consumer groups:
• Favored by young consumers: The consumer group of NARS is mainly young women, especially those born in the 1990s and 1985s. This group is greatly influenced by social media and fashion trends and has a high degree of attention and demand for makeup products. They pursue personalized and fashionable makeup looks, and NARS' bold and avant-garde colors and unique styles just meet their needs.
• Choice of professionals: For professional makeup artists and beauty enthusiasts, NARS' products are popular for their high quality and rich color choices. Its professional makeup product line can meet their high requirements for makeup in different occasions.
2. Diversified product demand:
• Base makeup products: Consumers have always had a high demand for base makeup products. NARS' base makeup products such as foundation and powder compacts are recognized by consumers for their excellent coverage, durability, and color selection. For example, NARS' Sheer Glow Foundation has a light texture and can create a natural makeup look while having good coverage and is suitable for daily use.
• Color makeup products: NARS' eyeshadows, blushes, lipsticks and other color makeup products are also very popular. Its eyeshadows have rich color combinations and fine powder quality, which are easy to apply. The blush colors are natural and can enhance complexion. The lipsticks have a moisturizing texture and high color saturation. In addition, NARS' highlighter products are also one of its star products, which can add three-dimensionality and luster to makeup.
• Potential of the male market: Although NARS' main consumer group is women, with the increasing attention of men to beauty, the male makeup market is gradually emerging. NARS can also explore potential demand in the male market.
3. Increased demand for specific scenarios:
• Daily makeup: In daily life, people pay more and more attention to their own images. Even in daily scenarios such as going to work or school, makeup products are needed to enhance one's complexion and confidence. NARS' products are suitable for creating daily makeup looks, which are neither too exaggerated nor can they show personal charm.
• Special occasions: In special occasions such as weddings, parties, and stage performances, people have higher requirements for makeup and need more vivid and long-lasting makeup looks. NARS' products can meet the needs of these special occasions. For example, its waterproof and sweat-proof eyeliner and mascara can maintain a good makeup effect in special occasions.
Competition situation of NARS:
1. Fierce brand competition:
• International brand competition: In the high-end makeup market, NARS faces competition from many international brands such as Estée Lauder, Lancôme, and Dior. These brands have strong strength in brand awareness, product research and development, and marketing. For example, Estée Lauder's makeup products are loved by consumers for their high quality and rich product lines. Lancôme's lipsticks and foundation products also have a high market share.
• Challenge from emerging brands: In recent years, some emerging makeup brands have continuously emerged. They have attracted consumers' attention with novel designs, unique product concepts and lower prices. These emerging brands have a large marketing force on social media and can quickly attract the attention of young consumers. For example, ColourPop in the United States is popular among young consumers with its rich eyeshadow colors and affordable prices, posing a certain challenge to traditional brands such as NARS.
2. Diversified channel competition:
• Online channel competition: With the development of e-commerce, online channels have become an important battlefield for makeup brand competition. NARS faces fierce competition from other brands on e-commerce platforms. Brands are all attracting consumers by optimizing official websites, opening flagship stores, and carrying out online marketing activities. For example, on e-commerce platforms such as Tmall and JD.com, major makeup brands are actively competing for traffic and users and improving their competitiveness by launching promotional activities and providing high-quality customer service.
• Offline channel competition: Offline channels are still one of the important sales channels for makeup brands. NARS faces competition from other brands in offline channels such as department stores and specialty stores. Brands are all improving consumers' shopping experience by optimizing store layouts, enhancing store images, and strengthening staff training. For example, in beauty collection stores such as Sephora, the counters of various brands are all displaying their products to attract consumers' attention.
3. Product innovation competition:
• Product research and development innovation: Consumers in the makeup market have a high demand for product innovation and upgrading. Brands are constantly increasing investment in product research and development and launching new products and series. NARS needs to continuously innovate and launch unique and competitive products in order to maintain a leading position in the market. For example, NARS' blush products are constantly innovating in color and texture and have launched many popular products.
• Packaging design innovation: Packaging design is also an important competitive factor for makeup products. Exquisite packaging can attract consumers' attention and increase the added value of products. Brands are constantly innovating in packaging design and launching packaging with creativity and beauty. For example, some brands have launched limited-edition packaging that combines artistic elements with makeup products and is loved by consumers.