The Success of EOS Lip Balm by Fast Company

Pushing a new product in the market, which is already filled and saturated with similar products could be detrimental to its producers. These new products are bound to face stiff competition from the already existing, established brands in the market. However, that was not the case with EOS.

EOS lip balm found its way to the market approximately seven years ago, EOS lip balm became the only customers’ choice which led to its demand shooting up the roof. The product stuffed up shelves in prominent cosmetic shops all over and customers seemed not to get enough of it inclusive of celebrities like Kim Kardashian and Miley Cyrus. The product has various flavours like honeydew and grapefruit that provided users with a choosing variety to choose.

Fast Company has moved up the scales to become the second best-placed lip balm company countrywide within a shorter time compared to arch rivals Burt’s Bees. It has however out-performed Chapstick and Blistex. The product’s sales figures are over 1 million units in a week with high prospects of higher growth shortly with the global market predicted to increase steadily due to the increase in demand for natural and organic products, which are the product’s speciality.

Sanjiv Mehra, the co-founder and managing associate of EOS lip balm explains that the product development came about as a result of deliberate action rather than research as is with most products. In collaboration with Jonathan Teller and Craig Dubitsky, they decided to delve into the beauty business and agreed to bring innovation to the lip balm section. They noted that since time immemorial, most products in this line were all similar and their only focus was cutting costs and price competition. They saw this as a market gap and seized it.

EOS is customized for women’s daily needs. Right from its outlook, they hired the expertise of a clay artist who would uniquely design its varying shapes. The product has since proved efficient and pleasurable for every woman’s use on an everyday basis. EOS has been focused on making great products and distributing them. Today, the lip balms are now sold in Target, Walgreens, Costco and Walmart. More so, for appeal purposes, it was designed in a way that attracts the attention of all senses ranging from its tender packaging that has a good feel in the hands, orbs colours, its smell, flavour tastes and also to the clicking sound as it opens and closes. EOS lip balm forms an emotional connection with its users making it the ultimate lip balm that makes you smile.

Sources

https://www.fastcompany.com

https://evolutionofsmooth.ca/

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