Perfect Diary brand introduction
The Perfect Diary Brand was founded in 2017. The brand founder from Harvard University and the British fashion designer met in London, with a keen sense of business and fashion, hoping to have the opportunity to bring European and American makeup back to Asia, and make a breakthrough in visual image creation.
The brand concept
Unlimited Beauty advocates that the young generation should not be constrained by external labels, but strive to constantly break through themselves, actively explore more possibilities in life, and meet a better self
Mission of the Brand
Focus on beauty exploration, remodeling, and expression to provide everyone with an accessible and above-and-beyond beauty experience.
Brand vision: committed to exploring the development of European and American fashion trends, while combining the facial and skin characteristics of Asian women to develop a series of “high quality, fine design” fashion makeup products, to achieve young women’s desire to “enjoy color, enjoy life”; Help the Chinese fashion industry by recruiting internationally influential Chinese beauty icons.
Overview of domestic beauty industry
Beauty industry market size growth slowed down
According to the National Bureau of Statistics, the year-on-year growth of retail sales of cosmetics decreased from 42.5% at the end of the first quarter of 2021 to 13.5% at the end of the second quarter, while retail sales of the beauty cosmetics industry increased from 27.22 billion yuan to 37.93 billion yuan, maintaining an upward trend. In June, the State Food and Drug Administration issued the Measures for the Management of Cosmetic Changes, which clarified the labeling management of cosmetics and the detailed requirements of labeling. Opinions on the regulations on supervision and administration of children’s cosmetics were publicly solicited to standardize the production and operation activities of the Children’s General Office and ensure the safety of the packaging of children’s cosmetics. The release of a series of policies not only ensures the safety of consumers, but also promotes the high-quality development of the cosmetics industry.
E-commerce is an important online channel for brand communication
Due to the impact of the epidemic, the overall sales of the beauty market declined in 2020, while the anti-risk ability of e-commerce was fully verified under the test of the epidemic, increasing by 20% in one year, and its share also expanded from 50% in 2019 to 59% in 2020.
Consumers’ dependence on e-commerce channels is not only reflected in the cost of expansion, but also reflected in the choice of platforms; In 2019, urban female consumers across the country used 1.7 e-commerce platforms per person to buy cosmetics, rising to 1.8 in 2020.
In this regard, brands have strengthened the position of e-commerce in the strategic layout, and overseas brands have preferred e-commerce channels to the domestic market; Domestic brands are also actively introducing online elements into offline channels to nurture the 020 model.
The growth trend of skin care products is prominent, color makeup, individual care heat is flat
Live broadcast with goods has become the standard of brand marketing, with major beauty brands increasing their marketing efforts in the live broadcast room. In the second quarter of 2021, the skincare category among beauty products had the highest live-streaming popularity, accounting for nearly 50 percent. According to the huge amount of calculation data, the TOP1 of color makeup and skin care is concentrated on the face, and the exposure rate of face color makeup and facial skin care in Q2 2021 is significantly higher than that of sunscreen, lip and eye makeup, and other products, indicating that beauty tends to improve the overall temperament.
“Perfect diary” product strategy
Adopt cost-effective parity strategy
The products of the perfect diary are mainly color makeup, followed by skin care products. In order to meet their needs in terms of appearance, consumers invest more and more in color makeup, but they often fall into the dilemma that the price of big-name cosmetics is too high to bear, and the cheap and inferior color makeup does great harm to the face. Perfect Diary has a good insight into the pain points of female consumers. It produces low-priced, good-quality, high-aesthetic, and easy-to-use makeup products for consumers, and quickly occupies this market. Perfect Diary has cooperated with a total of 10 foundries, and its main foundry is the top cosmetics OME factory. At the same time, Perfect Diary also guarantees that the price of most products is not more than 100 yuan. The product features a strategy of small profits and quick turnover, greatly compressing the gross profit margin, and with the substantial discounts launched by festival marketing, it soon becomes a big brand in the eyes of consumers.
Lip eye makeup is the core product, brewing into skin care
The brand goal of Perfect Diary is to develop a series of color makeup products for young women, based mainly on color makeup, supplemented by skin care products. The product category of Perfect Diary is very rich, and the whole line of single products on sale has more than 500, and is still increasing. The main products are lip, eye, and facial makeup, makeup tools, and makeup removal products. According to the list, the hottest part of the Perfect Diary flagship store is lip makeup, accounting for 39.05% of the total sales, followed by eye makeup, accounting for 31.62%, facial makeup, accounting for 17.19%, and skin care products, accounting for 8.32%. While keeping the sales advantage of lip and eye makeup, Perfect Diary has also begun to prepare to enter skin care. The “Perfect Heart Preferred” mini program has been on the shelf of many eye care and wash products. From the sales ratio and product layout of Perfect Diary products, it can be inferred that perfect diary brand adopts the strategy of “color makeup first, while entering skin care products.”
The product appearance design is beautiful
Take the National Geographic co-brand series as an example, the product packaging is drawn in the form of needle painting, and the eye shadow color block contains a variety of rich textures, presenting geographical textures. The name of each eye shadow color in the plate or with geography
combination of features, such as “Qomolangma” in “Powder Plateau”; Or named after traditional Chinese colors, such as “twilight grey,” “magenta,” “pale scarlet,” and “wisteria.” “Ingenuity + creativity” and the ultimate pursuit of details, constantly bring surprises to users, product sales are considerable.
“Perfect diary” marketing strategy
In the early stage of brand development, we should seize the bonus period of Little Red book platform development and lay a certain user base
In order to accurately attract customers, the “Perfect Diary” brand did not spend too much money on placing advertisements on Weibo, WeChat, and other big platforms shortly after its establishment, but seized the bonus period of the development of the Xiaohongshu platform to achieve mutual benefit and win-win results. The user group of Xiaohongshu is mainly the new generation of women after 90 and 95, and it is a gathering area for domestic beauty lovers. During this period, the perfect diary brand has mentioned “fashion week” and beauty awards from major fashion magazines many times (such as in a note published in Little Red Book in March 2018: “This foundation was on ELLE, second to Estee Lauder, the key is cheap”), which has attracted many fans.
Brand joint to create personalized brand
“Perfect Diary” provides rich stories and unique personalities for each product through co-branding, creating unique IP. Perfect Diary in the initial period with Milan Fashion Week, designer Xu Yiwei, after the first and the British Museum co-name; From the second half of 2018 to the first half of 2019, Perfect Diary carried out in-depth cooperation with a number of beauty bloggers, such as “Handsome You Face Hairy Egg.” Then I played “National Tide IP” by China National Geographic, which fully demonstrated to fans the new height of Perfect Diary in product creativity. At the same time, Perfect Diary is also building its own IP matrix, which has two prongs. According to the different needs of different people, Perfect Diary has opened thousands of wechat signals and small programs and created its first IP, “Xiaowanzi,” to recommend more suitable products and provide better services for tens of thousands of users. The brand “White Fat Boy Makeup Remofier” was made into dolls to participate in offline activities, participate in short plot videos, and open a White Fat Boy independent Weibo account to frequently interact with fans.
Create a private domain traffic pool to understand user needs
Perfect Diary is one of the first batches of national makeup brands to create a private domain. At present, the construction of the private domain flow pool of the brand is very mature. According to the nature of the service and different user groups, the brand has opened a number of public accounts and mini programs, such as “Perfect Diary Campus Alliance” for the student party, “Perfect Diary Experience Store” for offline stores, and “Perfect Diary Romantic Confession” for the fans of the spokesperson. At the same time, Perfect Diary invites customers to enter the WeChat community through the services “new customers receive gifts” and “small words.” People with similar and familiar characteristics will communicate together, and this process will reflect the characteristics of customers and their consumption habits, which play an invaluable role in the positioning and development of the brand.
Make full use of the rice circle culture and actively communicate with the “rice circle girls”
On March 20, 2018, the official microblog of Perfect Diary sent a post to collect the first spokesperson of the brand from fans. After that, it made an incomplete display in the form of a “lip print map,” which fully aroused the curiosity of fans. Then, it made an “official announcement” and interacted with “rice circle girl” without barriers. Perfect Diary also cooperates with artists in different fields in various ways to build a star matrix, spanning idol actors, models, and singers, and achieves mutually beneficial and win-win cooperation with artists by means of activity marketing.
Vigorously lay out the KOL communication system, and the KOL we have cooperated with has penetrated into various fields that young people like
Perfect Diary fully considers the characteristics of each platform and customer, selects a large number of Kols that are suitable for the brand, and carries out a large-scale KOL launch. The brand will not only cooperate with well-known stars and well-known Kols, but also choose a large number of head and waist artists to cooperate, so as to sink the market. Meanwhile, the brand will also ensure the quality of output content, further cover Douyin users, and improve the brand voice.
Technical analysis – low proportion of technical input, product competitiveness is not strong
Perfect Diary as a new brand, although the development speed is fast, marketing strategy is good, but it lacks the core of business — product. According to the financial report of Yixian e-commerce, in the first half of this year, although it began to invest heavily in research and development, the total research and development expenses were only 63 million yuan, accounting for only 2.21% of the operating revenue. In contrast, the sales expenses of Yixian e-commerce totaled 2.013 billion yuan in the first half of this year, accounting for 67.78% of the total revenue. In the current market environment, focusing only on marketing and ignoring the brand of the product itself is doomed to fail to make sustainable profits. In the Little Red Book, the perfect diary has more than 300,000 notes that are not useful and only 30,000 notes that are useful. The two are in sharp contrast. The lipstick has a dry texture card lip lines on the lips; more than 20,000 Little Red Book notes document the consistent evaluation of its lipstick, and hundreds of Little Red Book users have suffered from cheilitis after using the perfect diary lipstick. The co-branded gift box of the perfect diary and the shell are well received by the public, but the rough quality of the eyeshadow and problems such as flying powder make many people call “step on thunder” Carefully do packaging and marketing, but always do not pay attention to product quality, “Poor product quality” almost become a synonym for perfect diary.
Supply Chain Analysis
In the early days of Perfect Diary, in order to ensure more sufficient marketing expenses and more convincing positioning of “big brand replacement”, all products were basically produced by OEM and OEM, and there was no particularly complete supply chain. Although the foundries have the advantages of top production technology and short research and development cycle, the supply chain integration strategy of perfect diary still has hidden crises. First, perfect diary does not master the core technology, and the initiative is almost entirely in the hands of the foundries. Second, perfect diary does not say that there is an exclusive confidentiality agreement with the foundries. This means that the same production ideas and technologies may be used in the production of multiple products, leading to the inevitable competition for the market through high marketing costs, resulting in the inability to control costs and improve product quality.
Perfect Diary brand’s extreme marketing strategy on various platforms and innovation in product design have greatly promoted the development of the brand. However, perfect Diary also has problems such as “emphasizing marketing and neglecting research and development”, “over-publicity” and “currently not perfecting its own independent supply chain”. In the future, perfect diary brand still needs to pay attention to product research and development, and use good products to accumulate more reputation for the brand. Enhance customer loyalty to the brand.