Social&Technology Analysis of Revlon
Issues that may impact the industry include consumers’ concerns about product safety and the use of animal testing by cosmetics companies. In 1990, cosmetics giant Revlon became one of the first industry heavyweights to swear off all animal testing. Since then, Revlon has grown to be an animal-friendly empire, garnering awards for its products from magazines such as Cosmopolitan, Teen People, Allure, and In Style. That is a signal that Revlon has an awareness of social responsibility and also showed their concerns about natural environment.
Besides, with the income increasing, modern people are more willing to purchase personal care products and cosmetics for themselves. The age range of consumers is developing to both younger and elder. These trends are obviously seen especially in some developing countries and areas. Since the majority of personal care products are currently sold in the United States, Japan, Canada, and European countries(less than 20%of worlds population), the potential for sales of personal care products around the world is excellent.
Increasingly, cosmetics/personal care is not an industry for women only; men purchase personal care products such as skin creams and hair care products/dyes and many men are trying cosmetics in an effort to improve their appearance. The market for hair colouring has expanded with teenagers and adults wanting more vibrant colouring options. Revlon also shows its social responsibility according to charities.
There are the most recent examples which are significant. Through November 2008, Revlon donated a percentage of their profits to the Rainbow Trust children’s charity. Another one is announced in May of 2009. Revlon said it would donate 10% of sales (up to $100,000) of its new color collection to fund women`s cancer program in partnership with the EIF, which full name is Entertainment Industry Foundation.