Estee Lauder 2012 Annual Report Download - page 23
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LEFT: M.A.C Zoom Waterfast Lash
RIGHT: Bobbi Brown’s original lipsticks
This past year, prestige beauty grew faster than
mass in many key markets around the world. In
developed economies, this acceleration was driven
by the conversion of more consumers from mass to
prestige products. In rapidly growing economies,
rising incomes and the expansion of the middle
class were significant contributors. Meanwhile, as
consumers maintained their willingness to spend on
beauty, the global purchasing power of women
continued to improve. By paying close attention to
these changing dynamics, we successfully tapped
into the aspirations of our consumers, allowing our
Company to exceed many of our objectives in
fiscal 2012.
CONSUMER-INSPIRED INNOVATION
We are a creativity-driven, consumer-inspired
Company. Our belief that there are growth
opportunities within many of our product lines
and geographies drives us to better understand,
serve and delight our consumers everywhere.
We continue to identify emerging consumer groups
and deepen our insights to better innovate products
for them. In fiscal 2012, we made significant
progress in this area, attracting existing and new
consumers through powerful consumer-inspired
product innovations.
The beauty concerns of our most demanding
consumers inspired some of our year’s most
successful innovations. For example, Estée Lauder
21
We continue to identify
emerging consumer
groups and deepen our
insights to better innovate
products for them.