Innovate or fade: Why constant experimentation is vital to attract Gen Z and Gen Alpha consumers – SUGAR CEO
Founded in 2015, SUGAR Cosmetics has grown to become one of India’s most successful homegrown beauty brands on the back of demand from millennial consumers.
However, to ensure the future of the brand in the rapidly evolving Indian beauty market, it must now turn its gaze towards younger consumers, said co-founder and CEO Vineeta Singh.
“[India] is a very young country with 65% of women under the age of 35. And the average age at which makeup consumption starts is getting younger,” Singh said on the Beauty Broadcast.
“If you don’t attract the gen Z and you’re not even considered by gen alpha, then as a brand you’re done. It’s hygiene to attract them because in India, the average age is going down so fast that the core consumer for every brand in the next five years is going to be gen Z. They are going to be the ones with all the buying power.”
To glean more of Singh’s insight into India’s young beauty consumers, check out the video above.
Plans to stay relevant among younger consumers are already in motion at SUGAR. Most recently, the company launched a limited-edition liquid lipstick for Valentine’s Day, which was developed specifically with gen Zs in mind.
The product has been a hit on social media with its quirky heart-shaped container.
“You need to jump out on Instagram, you need to be thumb-stoppingly good-looking,” said Singh.
Singh told us that over the next couple of years, its fans can expect to see more limited-edition collections.
“As a colour cosmetics brand, it's important to come across as an innovative and experiment data brand while still holding on to its core.
“The good thing about limited editions is that if it goes wrong, as an experiment, it's not too problematic because it’s gone in a few days. And if it goes right, then you can eventually look at bringing it back as a core range. From an experimentation perspective, limited editions work quite well.”