Beauty Store Business

DEC 2014

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52 December 2014 | beautystorebusiness.com announce a new research service, Kline PRO. "This is the first time we're releas- ing highlights of our research publicly," says Mellage. In the past, only subscrib- ers could gain access to this kind of breaking research. More important, "This kind of trans- actional data has never before been available for the professional sector," she shares; other sectors have had scanner data available, such as the prestige and mass market, but profes- sional has not. Having access to such objective research could shake things up in the professional market. The overarching theme of Mellage's talk will be about how the profes- sional sector fits into the overall beauty industry. "Until now, manufacturers and distributors haven't had a way to benchmark their performance," relates Mellage. "It's been like a black hole." But with the introduction of a new research service for the professional sector from Kline and the PBA, "companies can spot opportunities more quickly," she states. This new subscription service, devel- oped by Kline in response to requests from the PBA to better serve its mem- bers, will provide information that sim- ply has not existed. Basic data such as how big the professional sector is, how fast it is growing and how various products are performing "have been lacking," Mellage points out. With the PBA's help, its members can now know more about their products, customers and competitors. In analyzing the research data for her talk, there were a few things that stood out to Mellage—some surprises. One thing that struck Mellage was the number of brands "we've never heard of," she says. "We've been studying the professional segment for 25 years and, surprisingly, the unknown piece—the number of unknown brands—is bigger than we thought." Some of the brands being sold "weren't even on our radar," she admits, which is valuable information for beauty insiders. Another unexpected finding was the number of brands being sold in salons that until now were never considered "professional"—brands that are on the shelves at stores such as Target are now competing with true professional brands in salons and spas. This informa- tion is useful as manufacturers try to determine their competitors. The upshot is that there may be more out there than they thought. Being at the summit will ensure industry leaders are up-to-date on what's really happening in the pro- fessional sector as Mellage provides highlights of the research that the PBA helped generate for its members. UNDERSTANDING CHANGES IN MARKET SEGMENTATION Just as there were surprises in new market research conducted within the professional-beauty sector, there are surprises in segmentation data that Jane Buckingham, founder of Trendera (trendera.com), will share with summit attendees. Buckingham pioneered the trend-forecasting field and is the fore- most expert on Gen X, Y and upcoming Z generations. Having studied these generations for more than 20 years, she is able to help companies and indi- viduals gain insights and actions around these difficult-to-understand groups. Buckingham is quick to point out that how we segment generations today is different from even just a few years ago. Generations used to be separated by 20-plus years—look at Baby Boomers, for example—but are now moving closer to 10 years long. The reason? Technol- ogy, says Buckingham. "Things today are Your Best Source for Beauty, Barber, Nail & Spa Supplies Attendance is capped at 125, explains Sleeper. "And we're close to that number already," he says. "We're expecting a sellout."

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