Guide to researching the beauty and personal care industry

picture of makeup pallette
Business research can be beautiful, too! Image courtesy of pumpkincat210

About

My friends in the Summer Business Cluster are working on a research project that addresses the beauty and personal care industry.  The resources found on this page should provide them with an excellent start to finding good information for the industry.

Updated 6/8/17 with local market demand and more, at the bottom of this post.


Information for the 6/9/17 research session with Chad

  1. You will work with your teams during our session.
    • Each team must have at least one laptop, though more laptops the better.
  2.  Open this PDF file that contains sample market research data.
  3. Go to https://app.tophat.com/e/481077 and login with your student id.

Best Bets for Industry Analysis

The resources in this section are the best bets for analyzing the broad industry.

IbisWorld

IbisWorld is a good place to get started for a good overview of several sectors of the U.S. industry.

  • Simply search by keyword for “beauty”, “cosmetics,” “perfume,” “toiletries,” etc. to find a number of different relevant reports.
  • Note:  Don’t just rely on one report in IbisWorld.  There will be several reports for industries that operate within the beauty industry.

First Research

First Research also offers broad industry overviews, which compliment the reports from IbisWorld quite nicely. You can find reports on “personal care products”, “cosmetics, and more.

  • Many reports offer much better global coverage than IbisWorld.
  • Reports cover critical issues, business challenges, trends, opportunities, and more.

Passport

Passport some excellent market research reports on consumer products in specific countries. Passport is a great tool to use to understand the industry on a domestic and  international level.

  • The best way to search for lodging information is to browse under Industries to “Beauty and Personal Care” then use the “Search Tree” to browse by product category and country.
    • Note that there are multiple product segments under the larger category.
  • It is also useful in finding related company profiles, which include strategy of the companies in the industry.   Search for major companies by name in the search box.  (Look for Local Company Profiles or Global Company Profiles under the Analysis filter to find these quickly).
  • Passport also addresses the broad Political, Economic, Social, and Technological trends affecting industries. This video shows you how to find information from Passport GMID for your PEST analysis.

Mintel

Mintel has a excellent market research reports that address the consumer side of the beauty and personal care industry.

  • Note that Mintel separates the two categories, but both contain relevant reports for this project.
  • The market research reports in Mintel cover consumer buying, demand, preferences, market drivers, and other consumer information.
  • Simply use the search option for keywords relating to cosmetics, beauty, personal care, perfumes, toiletries, etc.
  • Under the “Category Overview” header, you can also browse to the “Beauty” or “Personal Care” sectors to see the full range of market research data.

WARC

WARC is a great tool to understand how companies are marketing to consumers in a particular product category.

  • Search WARC by prodcut name (for example, Revlon, Covergirl, Suave, Gillette, etc.) to find marketing campaigns and case studies
  • Use the Topics tab to browse by Industy Sector to “Toiletries and Cosmetics” to find additional information.

Statista

Statista is great resource to find some extremely useful statistics for you industry. Simply search for keywords companies, or brands relating to cosmetics, beauty, personal care, perfumes, toiletries, to find stats for your project.

  • Tip:  Once you find a useful statistic, look at the “Release” tab on the left side of the page to find the “Source Link,” which will lead you to the original data source and potentially more information you can use.

Business Source Complete

Business Source Complete has a lot of useful information that can take your research to the next level. I’ve listed here last not because it is the least important, but because I would us articles and reports from Business Source Complete to fill in the gaps of your research.

  • You will find Industry Profiles and Trade Publications that can enhance the broad coverage of other industry reports. Search for ”lodging” or “hotels”.
  • Look for trade publications such as Global Cosmetics Industry , Beauty Packaging ,  and Soap, Perfumery, and Cosmetics for excellent information written by people who are embedded in the industry.

SEC Filings

The 10-k (annual SEC filings) for individual companies in the industry contain financial information for companies, as well as textual descriptions of business strategies, risk factors, competition, and more. Look in Part 1, Item 1 and Item 1A for this information in a company’s 10-K report. You will notice that the companies use some of the similar language found in reports like IBISWorld and others.


Top Picks for Company Analysis

The following resources are particularly useful when analyzing specific companies in the industry.

Mergent Online

Mergent Online should be your first place to look for company information.

SEARCH STRATEGIES FOR GETTING THE MOST OUT OF MERGENT:
  1. Search for your company, and look at the Company Financials tab.  You can download up to 30 years of as-reported financial information for public companies.
  2. Search for your company, and look at the Competitors tab to analyze the competition.
  3. Search for your company, and look at the Reports Tab.  Click on Equity Reports to get a stock report for your company and a few of its competitors.
  4. Search for your company, and look at the Horizon tab to understand suppliers and customer relationships.
  5. On the search menu, click the Investext Snapshot tab. Search for your company to find up to three stock reports about your company.

This video demonstrates how to find the most-essential information quickly in Mergent Online.

Investext

Investext contains analyst, stock, and brokerage reports for industries and companies.

  • Use the Company search box to search for leading companies in the idustry to find both company and industry reports.

OneSource

OneSource is another fantastic resource for both company and industry information.

Hoover’s Online

Hoover’s Online has great company and industry information.

  • Use the Company tab to search for a particular company to find company financials, competitors, company news, and more.
  • Use the Industry Tab to search for your industry terms to find some excellent industry reports. The industry data comes from First Research, which is the same information found via the First Research interface.

Privco

Privco is an excellent resource to use when trying to find information about privately held companies.

  • Use it to search for information about AirBNB and other private companies in the industry.

Factiva

Factiva is a great resource for looking for news about companies in the industry.

LexisNexis

In LexisNexis, use the “Get Company Information” search box to search for company information.

  • In addition to company financial information, you will find company news, company organization and subsidiary information, and company legal/lawsuit information.

 


Best Bets for Understanding Consumers and the Local Market

The resources below are essential in understanding consumers and your local market.

 

Simmons OneView

SimplyMap

  • SimplyMap can help you understand how many people in your market area use a particular product or service.
  • It’s also an easy way to gather demographics about your local market.
  • For this topic, you can find what percentage,or number, of people in a particular geographic area eat at a certain type of restaurant.
  • See this guide for help citing SimplyMap.
  • I have quite few videos that demonstrate various ways to use SimplyMap.  You can adapt the techniques to the lodging industry.

Census QuickFacts

  • Census QuickFacts provides easy access to some of the most-used economic and social statistics.
  • The QuickFacts are an easier way to get to census information than American Factfinder.
  • You will want to use census data to compare how your local market demographics align with the more general national demographics of a consumer market (like what you find in Simmons, Mintel, and Passport,above).

Bizminer

Mergent Intellect

LexisNexis

 


Related Topics: Business Cluster, Industry Guides