Study Focuses on Industry Inclusivity Across
Three Realms: Emotional Impact, Economic Consequences, and Social
Implications
NEW
YORK, June 27, 2024 /PRNewswire/ -- Today,
students from the Fashion Institute of
Technology's (FIT) master's program in Cosmetics and
Fragrance Marketing and Management (CFMM)—hailed as the "Beauty
Industry's Think Tank"—unveiled results from "The Future of
Accessible Beauty," a comprehensive research study from its 2024
capstone initiative that focuses on consumers who are traditionally
overlooked due to physical, emotional, social, or economic
limitations. The research was presented at the college, along with
an awards ceremony for graduates and a reception for industry
professionals sponsored by Shiseido Americas.
"Following the launch this month of The Beauty Center at FIT—a
collaborative industry/academic hub for consumer and business
research with the beauty industry—we are proud to debut our first
global research study that can utilize this new center for industry
salons and roundtables that integrate the academic research into
industry strategy," said Professor Stephan
Kanlian, founder and chair of FIT's Cosmetics and Fragrance
Marketing and Management program.
The class of 2024's study aims to elevate industry inclusivity
across three pivotal realms: Emotional Impact, Economic
Consequences, and Social Implications. It integrates six months of
original quantitative and qualitative global consumer research to
explore strategies that will help guide organizations through the
evolving landscape of beauty and accessibility.
Part One: Emotional Impact
This refers to the emotional impact of inclusivity for people
with disabilities on consumer perceptions and organizational
culture.
Inclusivity is a powerful movement reshaping the beauty
industry, impacting everything from boardrooms to product labs to
marketing campaigns. While there have been increasing
efforts toward diversity, equity, and inclusion in areas such
as skin tone, body type, gender, and age, a significant demographic
remains overlooked: the 20% of the global population that
identifies as having a disability1. This
group advocates for a holistic approach, integrating accessibility
into every facet of the beauty experience to truly meet the needs
of all consumers. As a group that commands spending power of over
$13 trillion2,
their inclusion is not only a moral imperative but also a lucrative
business opportunity for growth and shifting expectations.
Opportunity: Embracing Diversity and
Inclusion
To fully embrace diversity and inclusion, the
beauty industry must include people with disabilities—whether
neurological, physical, or sensory—in product design, omnichannel
sales, and marketing strategies. This will tap into an underserved
consumer base and foster brand loyalty. Additionally, meeting the
needs of people with disabilities requires a multifaceted approach
across all brand functions to be authentic and effective.
Developing inclusive workplace policies and educating associates
across all functions will create a supportive environment for all
people with disabilities, enriching organizational culture and
spurring innovation.
Part Two: Economic Consequences of Deserts
The economic consequences of "deserts," and expanding access to
fundamental beauty products and services.
Unlocking lasting and equitable economic access lies in
addressing an often overlooked challenge: deserts—geographic areas
where services or products are unavailable. Today, deserts are a
pressing macroeconomic phenomenon affecting consumers across
critical sectors. In the United
States alone, 121 million consumers live in healthcare
deserts3; 54 million live in food
deserts4. What deserts exist within beauty?
With an industry-first concept of beauty deserts, our mission is to
identify the unmet needs of consumers in deserts, create widespread
access to fundamental beauty products and services, and reignite
our responsibility to serve consumers of all socioeconomic
strata.
Opportunity: Expanding Access and
Affordability
To address the macroeconomic challenge of deserts, the beauty
industry must actively navigate the three factors that define its
existence: excessive distance and time spent traveling for beauty
products and services, high costs in acquiring these products, and
sparse assortment and availability of products that meet key
consumer needs. Brands must re-envision their traditional
distribution, pricing, and investment strategies to create lasting
change, reach overlooked consumers, and solve for this estimated
$10 billion opportunity.
Part Three: Social Implications
The social implications at the crossroads of beauty, wellness,
and societal norms.
While the beauty industry has long championed women's
empowerment, there's a vital yet overlooked area: hormonal health.
Despite the wellness market's moves to integrate into beauty, there
is a disparity in supporting women's comprehensive hormonal health
needs throughout key stages of their lives. From puberty to
menopause and beyond, women face a journey fraught with hormonal
fluctuations leading to many wellness concerns, yet find scant
support. Our mission is to bridge the gap between beauty and
wellness by advocating for accessible education, products, and
research tailored to women's comprehensive holistic well-being.
Opportunity: Integrating Wellness and
Beauty
Integrating wellness and beauty offers the industry a
profound opportunity to develop educational initiatives and
resources that raise awareness about the impact of hormonal health
on beauty and well-being, empowering individuals to make informed
choices and prioritize self-care. By considering hormonal health in
product development, research, and education, the industry can
cater to the unique needs of women across different life stages.
Supporting women's holistic well-being through their hormonal
changes enables the industry to seamlessly integrate into their
lifelong journey, fostering authentic and lasting
relationships.
"The capstone research of the FIT Beauty Think Tank provokes
discussion and provides a roadmap for future-proofing brands on
critical issues of importance to brands and brand leaders, time and
time again," said Corey Moran, head
of industry–Luxury and Fashion at Google, CFMM adjunct faculty
member, and program alumnus. "The research is informed by extensive
field work in global markets, interviews with experts from across
industry sectors, and original quantitative research with
consumers."
"The CFMM field study in India
and Singapore offered an
unparalleled opportunity to delve into both emerging and
established markets," said CFMM 2024 Department Medal Award
recipient Maclean Liotta. "This
experience broadened our global perspective and provided critical
insights that helped shape our capstone research on the future of
accessible beauty."
Infographics and white papers are available upon request.
About FIT and the Cosmetics and Fragrance Marketing and
Management MPS
The Fashion Institute of Technology
(FIT), a part of the State University of New
York, has been an internationally recognized leader in
career education in design, fashion, business, and technology
for more than 75 years. The college offers nearly 50 majors and
grants AAS, BFA, BS, MA, MFA, and MPS degrees, preparing students
for professional success and leadership in the creative economy.
The FIT Master of Professional Studies (MPS) in Cosmetics and
Fragrance Marketing and Management (CFMM) program, one of
seven advanced degree programs in FIT's School of Graduate
Studies, was developed in collaboration with industry as a
leadership development program for outstanding mid-career
executives. Global luxury firms including Chanel, Estée
Lauder, LVMH, and Shiseido, and global consumer packaged goods
companies including Coty, L'Oréal and Unilever, nominate talented
emerging executives to participate in the two-year program. The
CFMM program has become the beauty industry's recognized think
tank, producing high-level research presented to industry
executives and organizations, and during specialized panels,
symposia, and forums in both academia and industry. Visit
fitnyc.edu/cfmm. For more information on FIT, visit fitnyc.edu.
About Shiseido Americas
Shiseido Americas Corporation is a subsidiary of Tokyo-based Shiseido Company, Limited, a
leading global beauty company. Shiseido Americas' portfolio of
prestige beauty brands includes Shiseido, NARS, Clé de Peau Beauté,
Drunk Elephant, Dr. Dennis Gross Skincare, Tory Burch Beauty, and
several prestige fragrance brands including Issey Miyake and Narciso
Rodriguez. Shiseido Americas is headquartered in
New York City and employs more
than 2,000 individuals in the United
States, Canada, and
throughout Latin America.
CONTACT
Ivana Cepeda:
ivana_cepeda@fitnyc.edu, (212) 217-4710
Alexandra Mann: alexandra_mann@fitnyc.edu, (212)
217-4722
1 WGSN Insight Team. (2024,
February 2). Lifestyle Strategy:
Inclusive Cities. WGSN. Retrieved April
18, 2024, from https://media.wgsn.com.
2 Interbrand. (2021, May).
Inclusive Design: The Pursuit of Barrier-Free Brand
Experience. Retrieved May 20,
2024, from https://interbrand.com
3 GoodRx Research Team, Nguyen, A., Ph.
D., Van Meijgaard, J., Ph. D., Kim, S., MS, & Marsh, T., MPH.
(2021). HEALTHCARE DESERTS. In HEALTHCARE DESERTS (p. 2).
https://assets.ctfassets.net/4f3rgqwzdznj/1XSl43l40KXMQiJUtl0iIq/ad0070ad4534f9b5776bc2c41091c321/GoodRx_Healthcare_Deserts_White_Paper.pdf
4 USDA ERS - documentation.
(2022, October 20). Retrieved
June 14, 2024, from
https://www.ers.usda.gov/
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SOURCE Fashion Institute of
Technology