In the private label skincare sector there’s always a new “it” ingredient and product trend; it can be hard to know which ones to take seriously. Is vitamin C really all that? Is rosehip seed oil all it’s chalked up to be? Is beard oil really worth adding to your product line? As you navigate the sometimes winding roads of the natural skincare landscape, it’s important to develop an eye and sense for trends that will stick and trends that will go away as quickly as they came. Some are worth capitalizing on for that brief, seasonal moment while ignoring others will have no real adverse effect on your business. Here’s how to know what trends to follow and which ones may not be worth your time:
A great way to know if the current “it” ingredient is worth trying to capitalize on is to do a little bit of research. Is there substantial evidence that the ingredient in question actually works? This is an important question to consider and explore because, no matter how much hype follows an ingredient or product, sooner or later, what it will come down to is whether or not your customers are seeing results. Make sure that the ingredient in question will do just that: give them good results.
You will also want to consider the cost of the ingredient in relation to your budget and the budget of your customer base. For example, rose otto is a phenomenal ingredient to use on the skin. It’s extremely hydrating rejuvenating and anti aging- and it’s also incredibly expensive. Because of this, it might be wise to go with a few other ingredients that offer similar benefits to rose otto without the high cost. And even though you won’t be able to market your products as containing rose otto essential oil, you will be able to market them as having similar properties and effects, which is still great.
You also want to look at where in time you are trying to capitalize on a current trend. For example, it’s a lot harder to become wildly successful and dominant in the vitamin C serum sector now in comparison to a few years ago. Why? Because that part of the market has become so saturated as a result of vitamin C’s increasing popularity (coupled with the real time results it delivers). This doesn’t mean you should shy away from launching your own vitamin C serum or other popular product, but it is important to know it will be a lot harder to break in to the market on top.
At the end of the day, making important decisions about your private label skincare business requires a combination of research, taking stock of your current offerings and market position, and good old fashioned listening to your gut (and your customers!). Employ these three strategies, and you'll be well on your way to making the right decision.