Ethical cosmetics retailer The Body Shop (UK) went bust earlier this week.
Given the news, Nathalie Schooling, CEO of Customer Experience company, nlightencx, says that although the SA group are continuing as normal, it’s an excellent reminder to all retailers that today’s customers want to align with purpose driven brands.
“The body shop had a great story. Started by the late Dame Anita Roddick in Brighton in the 1970s, the company stood for ethical principles and the fight against exploitation. With all the changes in ownership over the years, these values have sadly been diluted, and the loyal customer base has not stood for it,” Schooling said.
Changing hands three times in the last seven years, the beauty group lost touch with the eco-shopper, and over time they fell out of love with the brand.
This resulted in the company losing market share to newer and alternative eco-brands.
“The skincare retailer lost its way. You can’t pull the wool of the eyes of todays savvy customer. When companies scale and forget their authentic purpose, they lose what makes the brand unique, and in turn the respect of their customers,” Schooling further added.
BUSINESS REPORT