The Body Shop and the

cosmetics industry
Case study 2
Aditya Ishan

09/08/2014

Introduction

The following report presents an analysis of the cosmetic industry as well as a study of The
Body Shop. First, an overview of the business will be presented followed by the analysis of
the current market. The third chapter is dedicated to the study of Porters forces. Then,
the segmentation of the market will be detailed followed by a SWOT analysis. Finally, the
preconized strategy is presented before concluding this document.

I Overview of the current situation

A) Cosmetic market evolution

Historically, the Egyptians were the firsts to use intensively cosmetics, they wanted to get
closer from the divinities. Then the Greeks used them for a different purpose: to make
women more beautiful. After the 15th century, cosmetics would become a sign of the social
position of a person. For instance, during the 17th and the 18th centuries, cosmetics were
used by all, men and women, except the poorest social classes.
A start of mutation triggered with the Edwardian society. At that time, cosmetics were
used to look younger but the discretion was the key point of this business. The 20th century
witnessed the democratization of the cosmetics industry with a growth of the competition
and the emergence of the mass market. In 1970, there was a diversification of the
products and in the 80s, the environmental concerns emerged, with a special care for
animals.
Nowadays, the cosmetic industry is a booming market, particularly on the perfume market,
with a strong competition. The emphasis is made on the natural ingredients and the
promotion through celebrities. Moreover, with the growth of the consumer faith in the
quality, prices increases and it became possible to transfer products from the mass
segment to the premium market.
A new trend in cosmetic history is that men start to use cosmetics. Consequently, the men
cosmetic industry grew by 43% between 1998 and 2003. Moreover, most of the men under
24 years old are nowadays prepared to buy expensive cosmetic brands. The particular
targets are young men with a care for their social image. On these markets it is possible to
use a same products for men or women with a different marketing campaign.

B) The Body Shop history

In 1976, Anita Roddick opened The Body Shop in United Kingdom. She had to offer 3.5
million dollars to rename the American body shop into The Body Time. The Body Shop
experienced a phenomenal growth in the 1980s, around 50% annually. It expanded
worldwide rapidly and it is now present in more than 61 countries.
The brand was built around five core values: activate self-esteem, fight against animal
testing, support community faire trade, defend human rights and protect the planet.
Besides, it has a special marketing strategy. The Body Shop doesnt pay for advertisement.
It avoided also traditional distribution channel and made a priority about having very small
packaging time.

The Body Shop use new management methods. For example, the staff is trained to be
gentle and the hiring process doesnt focus on skills but on values. Moreover, the employee
can bypass the manager and contact directly their director. These methods are also
participating to The Body Shop experience.

II Environment analysis
A) PESTEL analysis
1) Europe
a) Political factors
- The lobbying: to attempt of influencing the decisions made by government bodies

- The forbidden product: like products that are not under prescribed use for human beings
- Governments stability: it affects the prices and rise of taxes on each products.
b) Economic factors
- Economic crisis: it affects the purchasing power of the people
- Exchange rate
- Transportation fee
- Taxes: rise in taxes can increase the price of a product and reduce the sales of a product
c) Social factors
- Environmental engagement: the population care about environment and maintaining the ecological
balance
- Ethnicity
- Mentalities: cosmetics considered as healthy
- Lifestyle
- Traditions
d) Technological factors
- Plants studies and product exploration
- Product packaging
- Active ingredients
e) Environmental factors
- Animal testing
- Plants used in the product conception
- Toxicity of the chemical solutions
- Environmental policies
- Sustainable development
f) Legal factors
- Cosmetic regulations
- Environmental regulations
- Chemical regulations

2) United States of America

a) Political factors
- The lobbying: to attempt of influencing the decisions made by government bodies
- Ingredients have to labeled on each products
- Governments stability: it affects the prices and rise of taxes on each products

b) Economic factors
- Economic crisis: it affects the purchasing power of the people
- Exchange rate
- Transportation fee
- Taxes: rise in taxes can increase the price of a product and reduce the sales of a product
c) Social factors
- Ethnicity
- Mentalities: cosmetics considered as healthy
- Power of the mass marketing
- Lifestyle
- Traditions
d) Technological factors
- Plants studies and product exploration
- Product packaging
- Active ingredients
e) Environmental factors
- Animal testing
- Plants used in the product conception
- Toxicity of the chemical solutions
f) Legal factors
- Brand names issues
- Cosmetic regulations
- Environmental regulations
- Chemical regulations

B) Analysis
1) Political
The lobbying is a practice which is affecting the market for both United States of America
and Europe. The regulations for is more strict in Europe than in United States of America
with a list of forbidden ingredients. In the other hand, in United States of America, it is
mandatory to have a label on the product describing the ingredients within. Government
stability is also an important factors which affects the flow of the economy in a country. A
war in a supplying country can have a huge impact on the business.

2) Economic
The changes in the global economy has affected the purchasing power of the customers.
The exchange rates and the taxes on the products are an important part of the product
price. The same apply to the transportation fees.

3) Social
The product sales are affected by the change of the type of customers, for instance a
young male will not buy the same product than an old lady. The market segmentation
takes is also impacted by the different ethnicities as well as the traditions. These factors
have to been take in consideration to add a unique value to a product, making the
customer appropriate the product and thus increasing the confidence of the customer
about it. The culture and the ethnicities of America are very different from the European
ones. Thus the strategy in the American market is very different from the one used in
Europe. For instance, the American customers are more sensitive to marketing sensitive
than the European one who are more environmentally engaged.

4) Technological
The post-consumer recyclable plastics bottles which are full recyclable is one of the new
technologies that impact the product packaging. Moreover, every day the R&D
departments of the cosmetic laboratories discover new active ingredients from plants. The
new products and materials developed with them permit to renew the consumers choices.

5) Environmental
Animal testing is not forbidden yet but should be according to PETAs act. Likewise, the
control over the toxic ingredients is not done everywhere. The recycling becomes a major
concern for maintaining the decorum of the environment.

6) Legal
Environmental regulations are an important factor of the legal regulations that applied to
the product created with natural resources as plants and animals. Chemical regulations are
also important to control the use of chemicals in the production. Here the American
market is stricter and thus it is difficult to create a product which fulfil all these
requirements.

III Porters forces

1) The five forces
Entrants
- Other continent
companies ()
- New ventures ()

Suppliers

Rivals

- Bank (=)
- Insurance (=)
- State (+)
- Products factories (+)
- Raw material supplier (+)
- Distribution Channel (+)

- LOreal (++)
- Neutrogenia (++)
- Aveda (+)
- Unilever (+)
- Avon (+)
- Johnson & Johnson (+)

Substitutes
- Non-organic product (+)
- Homemade product (++)

2) Analysis
a) Low threat of new entry
The cosmetic industry has a low threat of new entrants due to several factors. The first
one is the huge costs of entry. Developing unique cosmetic products requires a lot of
resources both in terms of research and development and manufacturing process. Few
middle and small scale firms have access to the funds and expertise required to perform
this effectively. Another factor which discourages entry into this industry is the huge
competition. Companies like Avon, Revlon, Clinique, Estee Lauder, LR, Mac and Unilever
have large market shares. Moreover, there are many other small scale competitors who
also have a small market share and who reduce the overall profitability of the firms in the
industry. This market is a red ocean.
b) High bargaining power of customers
The high bargaining power of the customers is due to the importance of the competition
and to availability of cosmetic products from a variety of manufacturers. Since these
products have many substitutes, then it is possible for consumers to force manufacturers
to reduce their product prices. Of course, the bargaining power of the customers depend
of his purchasing power and of the segment to which his belong. Indeed, the cosmetic
industry is attracting the people of all age groups and social backgrounds. There are many
cosmetic products which are made to meet to the needs of different market segments.
The buyer concentration can therefore be deemed as low since there are many buyers who
cut across different market segments both in the developed countries and the developing
countries.
c) High bargaining power of suppliers
The suppliers have a high bargaining power due to the high number of market players. If
manufacturers sell their products at higher prices or if the countries taxes increase, the
cosmetic companies would have to reduce their margins.
d) High threat of substitutes
In the cosmetic industry, there are many competitors but also high threat of substitute
products. The consumers are able to purchase substitutes. It is therefore essential for the
market players in the cosmetic to be innovative if they are to tackle the challenge of the
threat of substitute.
e) High competition
The competitor concentration may be deemed as high in developed countries. Many large
scale cosmetic producers are concentrated in develop countries such as the United States,
France and Germany.
f) Exit barriers
Barriers to exit include the high development and research costs. Due to the high costs
associated with developing cosmetic products, it is difficult for firms to leave the industry
without achieving the costs for production. There are also many machines and equipment
used in developing cosmetic products and disposing these at a fair market value is difficult
hence making it an exit barrier.

IV SWOT analysis
1) Proctor and Gamble

A) Strengths
- Large incomes: total sales of $83.1 billion in sales for the fiscal year 2014 with Olay as the highest
selling brand
- Worldwide presence: market leader in China, United States of America and United Kingdom
- Strong reputation: elected the best anti-aging creams in a 2006 by a consumer association,
outperforming some much more expensive brands
- Large investment in development of alternative testing methods
- Large investment in R&D
- Acquire different companies to increase their catalog
- Powerful marketing policy

B) Weaknesses
- Animal testing controversy: they received criticisms from the animal advocacy group PETA
- Expensive products

C) Analysis
Proctor and Gamble has a powerful marketing policy and lots of sponsors that permit the
company to invest a lot on the R&D to develop new products and indulge new
technologies. The company also invested in buying the new small companies and new
entrants to offer new products.
The company weakest point is that it received a lot of criticism from the animal advocacy
group PETA as it have the policy of testing the products on animals and that it is not
environmental friendly. Their packing materials are also not eco-friendly. The company
worked on the market prices but failed for the values of the products in much of the
market and the value for the customers.

2) The Body Shop

A) Strengths
- A charismatic leader
- Brand reputation: The Body Shop received a Petas Award, give money to charity organizations
- Ethical business practice

- Graphical identity: unique colour and design

- Environmental friendly: products made of natural ingredients
- Use 100% post-consumer recyclable plastics for bottles
- It does fair trade with small communities
- Global position: located in 61 different countries
- Management technique: the communication with the hierarchy is easy and women are treated
equally as men
- Strong customers experience: the shops have a unique atmosphere, the idea is to provide
customer feeling of sameness in all The Body Shops around the world
- Study of customers behaviour and needs

- Testing on voluntary staff

B) Weaknesses
- Have many mature products
- No advertising: it is using a word of mouth strategy
- Lacking in introduction of celebrities to attract young crowd
- High transportation costs
- Avoid traditional distribution channel
- Though candidate selection

- Controversies: criticized for charging 50% more Irish customers than the British ones

C) Analysis
The most important strength of The Body Shop is that its products are never tested on
animals and the packing of the products are 100% post-consumer recyclable. The Body
Shop believe in community empowering. It targets small communities to import the raw
materials, which permits to increase their employment rate. The agenda of the company is
to take care about its employees, customers and the environment. The brand has a huge
network, it possesses shops in 61 countries, and they all provide the same ambience which
is a full part of the customer experience. Its involvement into charity as well as its leader,
Anita Roddick, made media report of it. Another important steps taken by The Body Shop
is the study of the customers behaviours and need as well as its unique management
techniques.
One of The Body Shops weakness is the presence of many mature products in its catalog
which means that there is a lack of renewal so a lack of research and development. Due
their non-advertisement policy, their products are not known by many people and reaching
customers is becoming much more difficult as the new entrants are targeting the market
by large marketing campaign. For instance, many companies are using celebrities to
promote their products, especially to reach young customers. The high transportation cost
also impacting on the companys product cost. The hiring process is really tough and cost a
lot in time to the company.

3) LOreal

A) Strengths
- Many brands name for different customers
- Local strategy with a global base
- Target developing countries
- Many partners
- Global presence
- A large R&D investment
- Invest a lot in marketing

B) Weaknesses
- Management of the whole organization: it is decentralized and the communication is not easy
between the different entities
- Controversy about the use of animals to test products
- Big marketing expenses
- Hair care sector not dynamic
- Not proactive in the field of natural and organic products
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C) Analysis
The main strength of the LOreal is that they have many kind of products for different kind
of customers from every segments. They target them through their different brands and
adapt their strategy to countries. They are also targeting the developing countries in which
they can provide products like China, Japan, India... They have created an online help
centre where customers can put their request on a product and they receive help. They
also help the customers to know which product is best for them. The company has many
partners that help it to stand in the current market in addition of its global presence.
Their income are used for large marketing campaigns and investment in R&D to innovate,
implement new solutions and develop new products every day.
The biggest weakness of the company is the management which is decentralized and
makes hard for the company to manage its resources and communicate within. For some of
the countries, like China, products have to be tested on animals, even if the usual policy of
the company is to not test products on animals. As a result LOreal gets criticism for
testing its products on animals. Introduction of lots of celebrities and market the product
takes away a lot of profit. Moreover, every products of LOreal are not very dynamic like
for instance hair lotions. Another important factor is the lack of organic and natural
products that most of the customers prefer.

4) Cosmetic Industry

A) Threats
- Hardening of the laws on animal testing in Europe
- New ingredients banned by the European legislation
- Unstable supplies of raw materials
- Strong competition in market
- Requirement for suppliers to adhere to ecological standards
- Need of environmental certification

B) Opportunities
- Growth of the male market
- Improvement the packing quality to make the product attractive
- Increased awareness of organic and eco-friendly product
- Increasing number of online buyers
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- Ageing population: new market segment

C) Analysis
The biggest opportunity of the business is the male customers segment which just
emerged. An improvement of the packing qualities, to make the product more attractive
could bring more customers from all the segments. An expansion of the online market
could be a good opportunity. Therefore, cosmetics are very personal and need to be tested
before to be bought so the online platform will not bring new customers but it would
develop the loyalty of the existing ones. A conscientiousness-raising of customers to the
environmental challenges could open the door to new products but also to new entrants.
In the other hand, the promulgation of new laws on animal testing and a growing concerns
of the states about environment could affect the product manufacturers. For instance, if
some environmental certifications are required to release some products, the market will
be totally changed. The unstable supplies of the raw materials due to economic problems
as well as the transportation problems could also affect the production.

V Segmentation
A) Market segmentation
1) Anatomy of the global beauty market
According to the estimation of CAGR over the last two decades the global beauty market
has grown of 4.5% per year on average. Products such as cosmetics, toiletries and personal
care have risen in demand unrelated to the economic conditions. The global market for
cosmetic industry could be segmented into five main area: skincare, hair care, color
(make-- up), fragrances and toiletries. The Body Shop could fulfil its customers needs and
wants based on this segments for cosmetic needs. Market can also be segmented based on
premium or mass production. The premium segmentation can be beneficial for developed
markets such United States of America, Japan and France.
The mass production segmentation could be a concentrated on geographic aspects where
the market share are rather small. Compared to the above larger revenues generators,
North America, Latin America, Asia-Pacific and Western Europe are the other regions to
focus on for mass production. There have an emergence of new markets to segment such
as BRIC (Brazil, Russia, India and China). In 2010, these four countries accounted for 21% of
global beauty and personal care markets and is expected to rise to 25% in 2015 (Leonard,
2011).
Looking at the entire worldwide cosmetic industry, sales is estimated to reach about $170
Billion dollars a year which can be uniformly divided around the world; with $40 billion
from American market, $60 billion in Europe, $60 billion in Australia & Asia and $10 billion
in Africa.
The top 5 of the largest beauty brands
1. Olay $11.8 billion
2. Avon $7.9 billion
3. LOreal $7.7 billion
4. Neutrogena $6.2 billion
5. Nivea $5.6 billion

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2) Market Segmentation based on product

The Cosmetic Industry can be broken into 5 segments, the sales are distributed roughly by
the percentages given.
1. Skin care 34%
2. Hair care 24%
3. Make-up 16%
4. Fragrance 12%
5. Other 11%
There has been a significant growth in skin care from 31% in 2011 to 34% by 2013 this was
mainly due to growth driven from Asian market (Lennard, 2013). Skin care is mainly
divided by facial care, hand and body care and sun care. Skin care product are on rise in
Asian market as of pal skin considered ideal in Asian market, that leads to strong demand
for a skin whiteners. Another factor contributes to the skincare demand is ageing
population in developed countries. Also raising awareness of health related risk of
exposure to sun is another factor contributing to the demand growth in the skin care
sector.
The global hair care market comprising of shampoos, conditioners, styling agents and hair
colorants, has shown a moderate growth as it has been affected by the economic
slowdown. The makeup market comprises anything from nail polish to lipsticks. With
booming trends for fashion makeup market has seen rise in the market share. The
fragrance sales are generally benefited from developed countries, especially thriving
economies of Western Europe and North America. The Other category represents
toiletries, toothpastes, deodorants and other personal care products. Demand such are on
rise with the aggressive advertising methods used by manufacturing companies like P&G,
L'Oreal, and Unilever.

3) Market segmentation based on the geography

Regions

2011

2013

Asia

31%

32%

Western Europe

24%

22%

Eastern Europe

9%

8%

North America

20%

21%

Latin America

13%

12%

Break down of the cosmetic market worldwide from 2011 to 2013
The geographical analysis of cosmetic analysis suggests significant change in largest beauty
market. While the North America and the Eastern Europe doesn't see any gradual change in
their market shares, new emerging markets from Asian countries are becoming bigger
players. With rise in the market share of Latin America and Asia pacific BRIC (Brazil,
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Russia, India and China) seems to be profitable for The Body Shop where the mass
production segmentation would be appropriate.

4) Demographic market segmentation

New trends in the cosmetic market makes it implacable for cosmetic industry to focus on
both male and female consumers, as has been a pivotal shift in male pampering culture
during last decade. Men toiletries used to consist mainly of shampoo, deodorant, shaving
cream and not much else. But from London to New York to Sao Paulo bathroom cabinets of
are brim with moisturizers, facial cleansers, eye serums, anti- agers and even mud masks
all designed for men. Cosmetic companies has a bigger challenge, to shift their gear from
only nurturing female consumers to manufacturing male cosmetic products. The
importance of both segments can be described as below based on their needs.
Male consumers
1. In 2013, for the first time men spent more cash on male specific toiletries than on
shaving cream.
2. In 2012 South Korean men spent $565 million on skin care products.
3. According to Korea Times, Members of K-pop boy bands are rarely on stage without
makeup.
4. A study by research firm Mintel says the men's make-up industry will be $3.2 Billion by
2016.
Female Consumers
1. Women spend an average of $144 a year on beauty.
2. By region, the west spends the most on beauty at $154.
3. 57% of women have purchased skincare products at Walmart of Target in the last 6
months.
4. 10% of customers generate 80% of revenue.
5. 45% of women cut back on skincare during the recession.
6. 20% of Americans have a household income of $100K plus, representing 70% of total
consumer wealthier.
Emotional Attachment
1. Nearly half of women in the United States of America feel that wearing makeup makes
them in control.
2. 82% of women believe wearing make-up makes them feel more self-confidence.
3. 86% of women find that wearing makeup improves their self-image.
4.58% of men says personal care products boosts their self-esteem.
5. 79% men says they feel more attractive when they are well groomed.

5) Market Segmentation Based on Distribution Channels

1. Drugstores (20,000 companies) $220 billion
2. Spa services (18,000 facilities) $13 billion
3. Department stores (3,500 stores) $70 billion

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4. Cosmetic retail (13,000 stores) $10 billion

B) Targeting
Above 40 years people
Industry is targeting the ageing section of the society for which the market is very new. In
this section of the society there are people who are not using the products as the products
are mainly designed for younger people.
Mens in Korea and India
In some Asian countries, like Korea and India, there is a development of metrosexual
sector in the society and even men are willing to groom and use the products. The industry
should target those countries for the same sector.
Loyal customers
The industry should also see about the loyal customers which are using this products for a
long time and check regularly about their experiences with the products. More interactions
with the customers about the feedback of the products can help the industry to know the
same in a better way.

C) Positioning
Advertisement
Advertisement of the products with details can help the industry to gain the customers
from developing as well as developed countries.
Strong stakeholders
Industry should see the position of the strong stake holders and then check how the same
can be utilized for the benefit for the company.
Innovative product
As most of the products are declining and are matured new products has to be launched
with better technologies and effect and easy to use for the customers.
Quality and design
The quality of the products has to increase as based on demand by the company and the
design of the packing has to be improved to attract the customers from all the segments.
Trust of the product
The customers should always trust the products and it is the responsibility of the industry
to maintain it. So the industry to launch campaigns and advertise about the details of the
product and try to improve the originality of the same so that the customers can trust the
product.

VI Summarisation of Analysis
PESTEL : lobbying and money fluctuation is affecting the market , need to the follow
ecosystem regularization. Technology improved a lot that makes product quality.
PORTERs: entry of the entrants is less but have high competition among the other
well known brands substitute and buyer demand is high

15

SWOT: Organic ingredients and against animal testing is strength. Weakness is

advertisement and need strong base should launch in BRIC .there is supplier threat is
high and opportunity to increase the male product.

Expansion story and history in America

TBS marketing strategy:
No advertisement,
Avoid traditional distribution channel,
Small packaging time,
Discuss ingredient instead of claims (ethical)
All natural ingredient,
Recyclable container
Focusing on the shop ambience: The idea is to bring uniqueness to the shop by
maintaining same atmosphere of the shop all over the world.
Staff trained to be gentle
Moving the shops strategically
Through candidate selection
Women powers in a way as Woman Manager
Study the customers values, behaviour, body
Testing on voluntary staff
Young employees
Management method: by pass direct manager and contact director
Close hierarchy
Staff evaluate manager
Staff free formation
Investment in foundation
New employee style

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****

BIGGER QUESTION****

Why The Body Shop FAILED in United States of America?

Product price was significantly higher than the mass-produced drug store items.
It failed to open many shops in america:
- Entrepreneur doing business in different states of US is subjected to varying
requirements.
- Mail order sale was insufficient.
No advertisements.

VII Strategy and Action Plan

Reaching new targets
The Body Shop has to stay focus on a specific market segment as it fighting on a value level
and not on a price one. New targets have emerged like young men and mature women that
can adopt The Body Shop values. It is the same for the emerging countries market that are
opening now.
Investment in research and development
The R&D department of The Body Shop as to be developed to new products which that can
be adapted to the targeted market segments.
Aggressive marketing campaigns
New departments have to be created to maintain the visibility of the product to the
customers and to promote the agenda of the company like its non-animal testing policy for
instance. Promotional strategies and aggressive marketing campaigns ensures that the
product entering the market have understood the market very well. By creating the
market awareness it will be ensures to reach the high levels. A combination of Internet and
mass media advertising should be used in order to reach all the desired target market
segments, especially in the American market. Introduction of celebrities in the
advertisements of the products also can attract the youth people who will be their future
customers.
Environmental consciousness-raising
The Body Shop should reinforce the environmental policies by working only with the ecofriendly suppliers and obtaining environmental certification will help the company to
maintain the brand name and value of the products.
Keep The Body Shop identity
Finally, the identity and the brand name of The Body Shop has to be maintained by LOreal
to make the current Body Shop customer still link to the brand. If it is not the case, the
customer could feel lost and not identify himself to the value of the Body Shop anymore.

VIII Challenges for LOreal

LOreal suffers several conflicts on work ethics and product ethics with the body shop due
to animal testing as The Body Shop never did animal testing. Thus, the company is facing
17

challenges as LOreal to follow the different country regulations on the manufacturing of

the product, testing the same and the marketing of the products.
It is a big challenge for the LOreal to keep the body shop image as it was known for its
brand and products. LOreal has to keep The Body Shop customer because they are bound
to the Body Shop values and could feel betrayed.
LOreal will have the marketing means and R&D resources of The Body Shop, and the only
thing is that LOreal has to use it properly for the growth of the company.
Another challenge for LOreal is to open door for the mass marketing which will surely
highlight the products and will help in the market capturing in the cosmetics industries.

Conclusion
After analysing the Global cosmetic market it leads to the following conclusions:-
1. The demand for the cosmetics in on rise and will continue to grow, with many new emerging
markets such as BRIC (Brazil, Russia, India, and China) with are highly populated countries and are
combined with already bigger markets such as USA and Europe..
2.Product differentiation becomes must for the manufactures in order to meet the new and
emerging demands of the customers as well as to keep to their competitors of the toe.
3. Out of all skincare cosmetics segment seems to remain and grow over the coming year, with its
increasing popularity, thanks to scenes and many other skin diseases or infections.
4. Focusing on Mass sales of cosmetic could be a deciding success factor, advertising the mass
cosmetics same as the prestige cosmetic would lead to a new masstige segment.
5. Focusing and utilizing the best distribution channels, as the online sales, supermarkets and the
hypermarkets have managed to increase their shares in the overall market.
6. Heavy investment are done on R&D for new product launch, where the emphasis are growing
toward more organic and sustainable products often based on fair trade policy.

18

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