Research of the natural cosmetics market in Latvia
Marketing Research
Conducted an in-depth market research of natural cosmetics in Latvia focusing on launching a new brand.
Task: identify real entry opportunities: not just describe competitors, but understand the market as a system.
Within the scope of the project:
1. Collected key market data: volume, dynamics, consumer behavior, queries from generations Z and Y, expectations regarding eco-formats, transparency, dermocosmetics.
2. Conducted a structured analysis of 6 brands focusing on their business model, communication, audiences, product range, and market share.
3. Built a SWOT matrix of the category and identified strategic gaps.
4. Formulated requirements for positioning the new player: price segment, communication strategy, unique selling proposition (USP), launch format (D2C, e-commerce, pharmacy networks).
5. Calculated market potential: TAM, SAM, SOM including a justified forecast of the share the new brand can occupy within 2–3 years.
Result: not just analytics, but a basis for strategic decision-making: where, how, and with what to enter the market.
Task: identify real entry opportunities: not just describe competitors, but understand the market as a system.
Within the scope of the project:
1. Collected key market data: volume, dynamics, consumer behavior, queries from generations Z and Y, expectations regarding eco-formats, transparency, dermocosmetics.
2. Conducted a structured analysis of 6 brands focusing on their business model, communication, audiences, product range, and market share.
3. Built a SWOT matrix of the category and identified strategic gaps.
4. Formulated requirements for positioning the new player: price segment, communication strategy, unique selling proposition (USP), launch format (D2C, e-commerce, pharmacy networks).
5. Calculated market potential: TAM, SAM, SOM including a justified forecast of the share the new brand can occupy within 2–3 years.
Result: not just analytics, but a basis for strategic decision-making: where, how, and with what to enter the market.