d. consuMer analysis

Based on primary and secondary research, we think Tower 28’s target market is going to be mainly women and some men between the ages of 16-30, who are social media heavy, environmentally conscious, and trendy.

The concept of “clean beauty” has gained popularity since 2018, and the clean beauty market has continuously grown. According to Market Research Report, “clean beauty” and the use of natural ingredients will maintain momentum in 2022 (Top Trends in Health and Beauty Market Overview, Key Trends, News and Deals Analysis and Social Media, 2022). Similar research also shows that “clean beauty” will be one of the top five trends in the beauty industry as consumers nowadays are more aware of the ingredients of beauty products. In addition, as the climate crisis gains more social awareness and attention, consumers have begun to look for skincare and beauty products that are ethically and environmentally conscious. With increasing social awareness and shifts in consumer preferences, “the clean beauty market is estimated to reach $22 billion by 2024, according to Statista Research” (Larson, n.d.).

Although there is an increasing demand for clean beauty and a potentially huge market, consumers face two issues when choosing clean beauty products. The first is affordability. Due to “hardto-source and high-quality ingredients,” clean beauty brands are often pricey (Larson, n.d.). Second, there is no federal regulation of clean beauty standards, and consumers are not sure which brands are safe to choose. Based on our primary research, more than 66% of participants are familiar with the term “clean girl aesthetics,” demonstrating that there is a huge potential for the clean beauty market. In addition, about 27% of participants consider prices when they choose makeup, while the affordability of clean beauty products remains an issue in the market.

We believe this presents an opportunity for Tower 28 to fill this gap in the market. First, Tower 28 100% follows the National Eczema Association ingredients guidelines, making their products trustworthy and clean. Second, Tower 28’s products range from $20 to $70, a price range that most consumers deem acceptable. Our secondary research also highlights that there is much more search interest related to “clean girl” than “Tower 28.” Thus, there are spaces for Tower 28 to expand.