CVS SKINCARE MARKET ANALYSIS

CUSTOMER RECORDS: ~556,000 | DATES: 1/2020 TO 10/2023

DATA SOURCES: CVS, AMAZON, TARGET, SEPHORA, ULTA, WALMART, WALGREENS

Pre vs Post pandemic

ANALYSIS SUMMARY

These results suggest CVS has maintained strengths in hydration and lightweight products over the years but needs to address packaging issues and sustainability concerns in their post-pandemic offerings. In contrast, the 2020-2022 period emphasized rectifying product effectiveness and skin compatibility.

While CVS has maintained some core strengths, there are areas of improvement. Addressing these through marketing strategies can enhance brand perception, customer loyalty, and market share.

Strengths, After 2022:

  • Top strengths include lasting hydration, lightweight products, facial wraps, and products that enhance the consumer's appearance.

  • Brands or specific products like "Dermalogica" and "Rich cream" have become significant strengths.

  • Notable mentions include products that consumers found transformative, worth the buy, and that left the skin well-hydrated.

Strengths, 2020-2022:

  • Key strengths during this period were refreshing products, overnight repair treatments, pleasant scents, and products that cleanse without stripping the skin.

  • Overnight masks, lightweight moisturizers, and thorough cleansers were also praised.

  • Some unique mentions include "Chapstick" and the ambiguity of the "Unknown" label suggests a product or feature that was recognized but not named.

Weaknesses, After 2022:

  • The primary concern is related to packaging with "Bottle is leaking" being the most significant weakness.

  • Consumers also felt some products weren't worth their price.

  • An emerging concern seems to be about the eco-friendliness of the products.

Weaknesses, 2020-2022:

  • The period saw complaints about products causing breakouts or being a waste of money.

  • Other notable concerns include products causing acne, being disappointing, ineffective, or too greasy.

  • Issues related to the texture of products, such as moisturizers being too heavy or products pilling, were also prevalent.

  • Some products were viewed as mediocre or not offering noticeable results.

Overall Analysis

  • Post 2022, CVS seems to be excelling in providing long-lasting hydration, lightweight products, and transformative skincare experiences.

  • Between 2020 and 2022, consumers appreciated refreshing and repairing products, with a few specific mentions like Chapstick.

  • On the downside, while packaging and value concerns dominate post-2022, the previous period saw more product-related complaints, from breakouts to disappointing results.

MARKETING IMPLICATIONS

  1. Focus on Core Strengths:

    • Hydration: Products that provide lasting hydration have consistently been a strength. Marketing campaigns should highlight and capitalize on this.

    • Lightweight Products: These cater to consumers who prefer non-greasy, light formulas, ideal for daily use. Emphasize these products in advertisements.

  2. Product Promotion & Collaboration:

    • Brands/products like "Dermalogica" and "Rich cream" that emerged as strengths post-2022 suggest potential collaboration opportunities or targeted promotions.

  3. Address Concerns Head-On:

    • Packaging: The issue of leaking bottles post-2022 is a significant concern. Addressing this and communicating improvements can help restore consumer trust.

    • Sustainability: The emerging concern about eco-friendliness indicates a shift in consumer values. Consider introducing or promoting eco-friendly product lines and sustainable packaging.

  4. Leverage Past Strengths:

    • Products praised between 2020-2022 for their refreshing and repairing qualities can be reintroduced or highlighted in flash sales or nostalgia campaigns.

  5. Quality Control and Assurance:

    • The 2020-2022 period had several product-related complaints, from acne to ineffectiveness. Continuous quality checks and feedback loops can aid in improving the product lineup and avoiding recurring issues.

  6. Value Proposition:

    • Address concerns about products not being worth the price. Offer value packs, bundles, or promotions that emphasize value for money.

  7. Educational Campaigns:

    • Given the diverse range of feedback, it might be beneficial to launch educational campaigns. These can guide consumers on product usage, benefits, and choosing the right product for their skin type, reducing complaints about breakouts or ineffectiveness.

  8. Feedback and Engagement:

    • Encourage continuous feedback and engage with consumers to understand their evolving needs. This will aid in anticipating market trends and adjusting offerings accordingly.