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In the inaugural Vogue Business Beauty Index, The Ordinary tops the chart, outpacing rivals, particularly in the categories of consumer sentiment and ESG. Perhaps a surprising result for some, but considering its affordable price point, The Ordinary is the index brand that scores the highest for purchase intent, as well as performing well in consumers’ eyes for efficacy and personalisation. Charlotte Tilbury and Kiehl’s came in second and third, respectively.
Our extensive consumer sentiment survey, which included more than 3,000 respondents across six markets, also revealed some interesting results. Male consumers are now becoming a dedicated audience for beauty. Despite fewer male consumers purchasing beauty products than females, those that do tend to buy in higher volumes, particularly moisturisers, cleansers and fragrances. In fact, 70 per cent of men surveyed had purchased three or more skincare products in the past 6 months, compared to 67 per cent of females.
This is just one of many provocative findings in the new Vogue Business Beauty Index, a first-of-its-kind study that aims to evaluate a cross-section of the industry, bringing together insights and learnings from both established global leaders and disruptive newcomers. Beauty represents not only an important growth category for brands but also a crucial indicator market for investors, incubators and entrepreneurs. It is also a market that sheds light on unique cultural behaviours and swift economic developments as a category that often evolves faster than fashion. Across the four assessment areas of the study (consumer sentiment, digital, ESG and innovation), we’ve collected over 120 points per brand, enabling us to provide a comprehensive analysis of brand performance as well as trends and behaviours at market level.
As the first-ever Vogue Business Beauty Index, we’re excited to share these on-the-pulse insights with you while also evolving our assessment of the market in future editions. Given our decision to include disruptive brands in the mix, for some reading this report, it may be the first time you are able to access granular data about newer brands. We, therefore, anticipate that this study will provide a firm foundation for beauty executives to understand the category in new ways and serve as a valuable tool for strategic planning.