Shine OnTop 10 global beauty brand rankings released
Earlier this week, brand-valuation firm Brand Finance released its yearly ranking of the world's top 50 beauty brands, including skincare, haircare, shower products and makeup. While some of the results may surprise you, others, probably won't. They're the brands that are top-of-mind, in your face, and doing all they can to remain there.
Taking the top five spots are Olay, Avon, L'Oréal, Neutrogena and Nivea, with Lancôme, Dove, Estée Lauder, Bioré and Shiseido rounding out the top 10. According to Forbes, the rankings were compiled based on forecasts for five-year revenue, customer loyalty, royalty rates, and market share and value.
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Most women have their go-to products that they swear by and have been using for years, whether it's a favourite mascara, face moisturizer or shampoo they just can't bare to part with. And with so many beauty brands and products on the market today, gaining customers and building loyalties has become more difficult than ever, so the companies coming out on top are truly earning their status.
Beauty is a $382-billion business, with the top 10 brands alone valued at a whopping $60 billion, reports Forbes. And those brands wouldn't be where they are today without their female customers, which account of 85 per cent of the industry's total consumer base. So the brands that women decide to be loyal to are the ones that will succeed, but just how do they determine their loyalties?
"Consumers are loyal to brands because of the trust factor, which is especially important in beauty products," says Elise Neils, managing director of Brand Finance USA, to Forbes.
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Procter & Gamble's #1 brand Olay, valued at $11.8 billion, cements its top spot through a blend of both history and thoughtful marketing. According to Forbes, the brand that's celebrating its 60th anniversary this year doesn't rest on its historic appeal alone. Its partnership with the International Olympic Committee and sponsorship of American gymnast Alicia Sacramone, who will be competing at the London 2012 Olympic Games, is just one example of how the brand continues to keep itself current.
Neils tells Forbes that Avon's #2 spot, despite its significant value drop from last year, can be attributed to the brand's growth overseas and its longstanding commitment to empowering women. She continues to say that brands, in general, are seeing the most sales growth from anti-aging skincare lines, thanks to the baby boomers.
Sadly, no Canadian brands made the cut this year. France and the U.S. dominate the ranks, with 18 and 17 top brands each, and Britain follows far behind with six beauty brands worthy of top global status.
What beauty brands are you most loyal to? Do you tend to favour beauty products from a particular country?
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