The Estée Lauder Companies (ELC), a global leader in the beauty industry, has developed a powerful tool to enhance its ability to translate consumer insights into actionable business strategies. The company’s new system, ConsumerIQ, aims to streamline the process of gathering, synthesizing, and applying consumer data across its nearly 25 brands worldwide.
The launch of a new product, such as a night cream, requires a deep understanding of consumer preferences, market trends, and regional demands. However, for large organizations like ELC, these insights are often fragmented, leading to duplicated efforts, wasted time, and challenges in execution.
Kalindi Mehta, Global Vice President of Foresight and Predictive Analytics at ELC, highlights the importance of overcoming these hurdles. “ELC has rich proprietary insights, but one of the biggest challenges is synthesizing this data across our global organization quickly,” Mehta says. “A central system of shared intelligence helps teams avoid spending valuable time tracking down information, enabling faster decision-making and ensuring that the consumer remains at the center.”
ConsumerIQ, developed by ELC, is designed to consolidate insights from various teams and regions, making them easily accessible and actionable. Instead of sifting through reports and engaging in lengthy discussions, teams can now receive immediate, data-driven answers to specific questions. Jennifer A. Lee, Director of Strategic Initiatives and Predictive Analytics, explains, “They can ask ConsumerIQ a question and get an informed answer in seconds. It equips our teams with the right insights to make timely and impactful decisions.”
For example, when introducing a new night cream, ConsumerIQ can instantly provide key insights, such as the growing demand for nighttime skincare. It can also identify consumer preferences for specific features like hydration, recovery, and repair. Additionally, marketing teams can gain valuable insights into which messaging resonates with consumers, whether they are drawn to the idea of a skincare ritual, a scientific breakthrough, or a luxury experience.
ConsumerIQ scans a centralized repository of insights across ELC’s brands, allowing teams to quickly access data without starting from scratch. This centralized system supports more effective product development and marketing strategies by providing clearer data and sharper insights. Mehta notes, “Beauty startups may be able to capitalize on the latest social media trends, but they don’t have the decades of market knowledge and deep consumer understanding that ELC does. With ConsumerIQ, we now have the technology to leverage that wealth of knowledge.”
As the beauty industry continues to evolve, ConsumerIQ is positioning ELC to stay ahead of trends and meet consumer demands more effectively, all while ensuring that decisions are made with the most relevant and up-to-date information available.
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