Chicken wings, India, storyliving & more

Written by Caroline | Feb 29, 2024 8:49:34 AM

This month, we are telling you about:

1. Super bowl figures, starting with the number of chicken wings: 1.5 billion!
2. How to break into the booming Indian market
3. BodyShop's critical situation, which we hope will have a happy ending
4. Another step towards Storyliving (Ciao storytelling) for Saint Laurent
5. LVMH is collaborating with Paris Good Fashion for Sustainability, when Zara fights against Shein with its fast fashion brand: Lefties.

SUPER BOWL: $17.3 BILLION ON PARTY FARE, DESPITE RISING FOOD PRICES

After the Super Bowl, fans spent a notable $17.3 billion on party supplies despite rising food prices. The event highlighted shifts in consumer behavior, with people becoming more cost-conscious and seeking affordable yet satisfying alternatives for their celebrations. This change reflects broader economic pressures like food inflation and introduces creative party planning to accommodate diverse tastes and dietary preferences. With health and wellness trends influencing menu choices and the NFL's growing female viewership altering party dynamics, the Super Bowl continues to be more than just a game—it's a reflection of evolving consumer trends.

How will these changing consumer behaviors impact future retail strategies and event planning in the face of economic and social shifts?

WHAT EUROPEAN BEAUTY BUSINESSES NEEDS TO KNOW ABOUT THE INDIAN MARKET

The Indian beauty and personal care market is experiencing a significant surge, according to a recent report. Here are some key takeaways for retail professionals:

- Rapid Growth: The market is anticipated to grow at a compound annual growth rate (CAGR) of nearly 10% by 2028, surpassing other regions.

Key Drivers: This expansion is fueled by rising disposable income, a young population increasingly beauty-conscious (think Bollywood influences!), and the growing influence of e-commerce, especially among digital natives.

Shifting Preferences: Consumers are demonstrating a growing preference for natural, organic, and Ayurvedic beauty products, reflecting a return to traditional Indian wellness practices.

Untapped Potential: The report highlights significant potential in India's rural markets, where awareness and aspirations for beauty products are on the rise.

As brands seek to capitalize on this booming market, how can they effectively tailor their product offerings and marketing strategies to resonate with the unique preferences of Indian consumers, particularly their emphasis on natural ingredients and traditional practices?

READ MORE: COSMETICS DESIGN

HOW DID THE BODY SHOP'S DOWNFALL BEGIN, AND CAN IT BE SAVED?

The once-iconic sensory experience of shopping at The Body Shop once a leader in ethical beauty has been overshadowed by rivals like Lush and Rituals, whose vibrant stores, broader range of products and ingredients, and online presence appeal to a younger demographic.

After struggling to adapt to changing consumer preferences and keep pace with competitor innovations, the brand is closing nearly half its stores and laying off a significant portion of its staff.

Ownership changes and financial struggles have further complicated the situation, leaving the future of The Body Shop in the UK uncertain. As the brand grapples with its challenges, the retail industry waits to see if it can adapt and overcome them, offering valuable lessons for all businesses navigating a dynamic landscape.

STORYLIVING: SAINT LAURENT EXPENDS ITS UNIVERSE WITH A BOOKSHOP

Saint Laurent has expanded its cultural presence by opening a bookshop, Saint Laurent Babylone, in Paris. This venture adds to its involvement in publishing, music, and cinema, reflecting the luxury brand's deepening engagement with art and culture. Located in a transformed retail space in the 7th arrondissement, the shop offers a selection of rare books, records, and art, aiming to become a new cultural hub in Paris. This initiative is part of a broader strategy to integrate fashion with diverse cultural expressions, led by creative director Anthony Vaccarello.

Does Saint Laurent's foray into cultural retail reflect the broader trend of luxury brands embracing storyliving?

SOURCE: WWD

LVMH AND PARIS GOOD FASHION JOIN FORCES FOR SUSTAINABILITY PUSH

In a significant move for the fashion industry, LVMH and Paris Good Fashion have launched the Green Store & Building Challenge, aiming to promote sustainable practices throughout the retail sector.

This ambitious collaboration aims to raise awareness and mobilise key players in the sector, from brand managers to store owners, towards a significant reduction in the ecological impact of fashion commerce.

It will offer a practical guide with 12 action points for stores to become more sustainable, focusing on energy efficiency over mere labels. LVMH is simplifying existing sustainability standards with a 12-point KPI system to promote transparency and education.