Last week, we published a Product Bite about the currently “hot” sunscreen market. Temperatures in Seattle hit the high 90’s this past weekend, prompting the weather bureau to issue an excessive heat warning and encourage citizens to wear sunscreen. I went back to our Product Intelligence App to look at the sunscreen data and dig a little deeper for more insights.
Out of the 10,000-odd products on the market, between 19-21% have been on sale consistently throughout the month of June. Of course, as one would suspect the case to be during the summer months, when compared based on sales percent, while there are more than a 1,000 products offering 1-10% off, there are less than 10 products offering more than a 90% discount.
No doubt this is a time of high demand, but parameters other than price do factor into what brands and products are carried by different stores. Last week, we saw how brands like Coppertone, Neutrogena and Banana Boat have high market penetration with each brand carrying more than 500 products across various stores. While that indicates the popularity of the brands for sure, there are other brands at play as well. For instance, when I filtered the entire set by products that are available at more than 11 stores, the story showed an interesting turn.
Brands like Badger, Kiss My Face, Aveeno, La Roche-Posay don’t stand out in a product count, but when looked at across stores, they have a significant presence, hinting at several possibilities. These brands are competing strongly against the more popular ones, even La Roche-Posay which has a significantly higher price point than Banana Boat or Neutrogena. The fact that these brands are available at so many stores means the demand is high. It could serve other stores and retailers well to stock these particular products and enrich their assortment to capture the niche market that is buying these products. These kind of insights are made easily possible through the power of Product Intelligence.
Price and numbers aren’t everything. Brand reach and loyalty goes beyond that, as will be proven in age of Pervasive Commerce, where brands will have to go beyond price to prove their mettle.