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Informative Article | Management | India | Volume 11 Issue 12, December 2022
HENR's Trends in Cosmetic Industry
Abstract: A pull strategy is used by luxury brands to get the attention of potential consumers, and those potential consumers mainly fall in HENRY segment (High Earners, Not Rich Yet) The millennials. The perspective of looking at cosmetics and its effect has changed since a lot of influential sources considering media, digital world and apps have come into the picture. Luxury brands always maintain their core values along with the unique marketing strategies. Social media influencers using GRWM and Haul videos have a huge impact on makeup users and a great impact on their next purchase. High - end brands promote their products through celebrities and well known influencers who have good amount of followers and in this case the beauty bloggers who use and promote luxury product and making reels and videos on the latest launch of the product of luxury brand is a much awaiting scene. HENRY segment has contributed in the huge margin for the luxury brands. The mindset of middle class in this century plays a vital role in the usage of luxury products. In this article we will see the marketing strategies adopted by High End brands and how they target particular section of the society for their particular product, we will also have a look into the Factors influencing buying behaviour of HENRYs.
Keywords: HENRY segment, Consumers behavior, Strategies, Luxury products, Millennials
Edition: Volume 11 Issue 12, December 2022,
Pages: 598 - 601