Sales of Palmer’s Cocoa Butter Formula Multi-Effect Facial Perfecting Facial Oil doubled following its Product of the Year Award in the Anti-Ageing Skincare category in February this year.
ET Browne Managing Director David Haskard said they leveraged the win into a 3 month million dollar marketing and advertising campaign, comprising of TV, print and in-store shelf activation.
“We’re thrilled with the results,” Mr Haskard said. “Winning Product of the Year has given our sales a huge boost and helped us stand out from the crowd in a very competitive market.”
The results bode well for the brand given the public’s seemingly insatiable desire for innovative and well-priced anti-ageing products.
The primal desire of humans to remain forever young has fuelled a huge industry in the health and beauty sector.
According to *Statista, in 2016, the global skin care market is estimated to be worth about $AUD163 billion.
And it’s not just Baby Boomers and older Gen X-ers looking to delay ageing, the skin care industry has witnessed a shift from demand from older consumers to a growing younger consumer base. People are beginning to use skin care at an increasingly young age in a bid to delay the signs of ageing.
In the US, the skin care and toiletries market in general is benefiting from a rising demand for natural and organic products, with a faster growth rate than that of the overall market.