Is OPI the perfect brand?
1. Product is awesome. good quality, lasts and looks good (even if I do it).
2. Clever catchy names. every season they pick a theme. France, Chicago, Holiday and the names follow suit.
Lincoln Park after Dark
Yes I can-can.
No, I am not really a waitress.
3. Market lockup (or distribution)
There are currently more than 9,000 day spas and 50,000 mani/pedi places in the United States and 1,300 days spas and approximately 4,000 mani/pedi in Canada, and the number of day spas has grown an average of 20 percent annually for the past eight years.
Rare is the outlet that doesn't have OPI products.
Manis and Pedis are a $6 Billion/year industry (US figures).
According to industry data, Americans today spend an average of $200 per person per year on hair care and nail care in salons.
Average price of manicure: $20
Average frequency: 23% of respondants visit a mini of 1 within a 6 month timeframe.
Why they return: cheap, cheerful, affordable luxury (HELLO!!! very recession friendly!!!)
This simple math will make you think about ditching your inventions for the next zipper and start thinking about getting nich on a mass opportunity.
US figure estimation:
50,000 nail shops x approx.100 bottles of colors x go through each color 20x//year = 100,000,000 bottles a year.
estimate that each salon purchases each bottle for approx. $4 wholesale:
$400,000,000 US revenue per year!!! Not including for personal sales.
Amazing Grace!! (that's probably a color...)