TikTok has become the “front door for beauty” as many brands turn to the platform to connect with the younger consumer, according to an Estée Lauder Companies exec.
During a panel talk at the World Retail Congress (WRC), Estée Lauder Companies president of EMEA, UK, Ireland and emerging markets Nadine Graf said brands are now turning to the social media platform to reach younger consumers.
As part of adapting to customers that shop digitally and socially, Graf said Estée Lauder Companies is changing “pretty much everything across the business” as it works towards its vision to become “the most consumer centric prestige company in the world.”
She added that brands under the Estée Lauder Companies portfolio have started to appear through other channels as The Ordinary has just launched on TikTok Shop, and Clinique is “very successful” on Amazon in the US.
“We need to be where the consumer is, even though we don’t like them to be there,” she said.
“There’s no prestige channel, there’s a prestige presence but not really a channel anymore.”
She later explained that Estée Lauder Companies has committed to tripling new product launches in 12 months as it’s “the only way to stay competitive” in the luxury beauty market.
She concluded: “By 2030 Gen X, Gen Z and alpha are going to represent more than 30% of the luxury market and we need to grow with them right now.”
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