Have you heard the latest news in the cosmetic industry? The Body Shop, a well-known manufacturer for bathing products, has been recently experiencing a downturn in the global market.
Forty years ago, The Body Shop introduced a unique brand of bathing products to an entirely new generation. The objective was to highlight exotic materials from nature but at the same time, ban animal testing. Undoubtedly, the company’s original business ethics elevated The Body Shop brand to the top, allowing it to take its place amongst the establishment of the cosmetic world.
However, in 2016, reported data showed that The Body Shop had made little contribution to its parent company, L’Oréal. Its revenue continued to slip, creating internal financial problems. It is no longer a neighborhood-favored brand, and is gradually being replaced by competitors such as Lush, with cheaper prices and fancier concepts.
As the world continues to develop at an exponential rate, traditional business ethics are no longer the way to establish a brand, in order to make it compatible in the explosive global market. This confirms that people nowadays have become more aware of the social responsibilities a business carries to its community. Despite the cruel fact that The Body Shop is falling behind the race, there are actually lots of companies that run in front only use “the ethics” as their slogans to attract customers without any practical action. As a result, the ethics of a business should be part of its foundation, and not be used as a promotional gimmick.
The Body Shop launches Forever Against Animal Testing campaign (CNW Group/The Body Shop)
References:
An ethical retailer takes a bath. (2017, February 16). Retrieved September 13, 2017, from https://www.economist.com/news/britain/21717085-iconic-brand-badly-needs-makeover-ethical-retailer-takes-bath
The Body Shop and Cruelty Free International Campaign to end cosmetic product and ingredient animal testing globally once and for all. Retrieved September 13, 2017, from http://www.newswire.ca/news-releases/the-body-shop-and-cruelty-free-international-campaign-to-end-cosmetic-product-and-ingredient-animal-testing-globally-once-and-for-all-625675423.htm