COSMOFACTORY

Deanna: [00:00:00] This episode is about consumer first merchandising. It's about increasing brand, retailer and cultural appreciation of all things menopause. And it's about inspiring and incentivizing consumer goods industries, including beauty to see, serve, and support the menopausal consumer. For this episode of the Cosmo Factory Podcast, I'm talking with Heather Jackson, CEO, and co-founder of Gen M Heather.
Welcome to [00:01:00] Cosmo Factory.
Heather: Oh, thank you very much for having me.
Deanna: Let's start with some numbers. Uh, Heather, will you just remind us the size, the scope, the spending power of this menopausal consumer demographic?
Heather: Absolutely no problems and uh, I think I'm in a good place to do that, being this CEO and co-founder of Genn, the menopause partner of brands and home of the mtech, who actually are supporting the biggest retailers and brands to actually understand the audience that currently is out there of 15 and a half million women in the uk.
75 million women in the USA and 1 billion globally who will be in menopause at any one time of this time. Up to a 15 year transition. And actually these are the figures that we need to remember. That's 15 million, 75 million, 1 billion. But what do they represent? They represent 20% of the market share, 20%.
And you look at the vegan audience, which is 3%, which is a live choice. You have a 20% over here that is no live choice. Every woman will enter menopause and yet. [00:02:00] Where's their signposting? Where's their customer development? Where's their customer experience? New product development. So if nothing else from this podcast, if, if the, if, if any of the brands listening, just make menopause the new vegan and look to respect that audience better.
We'll get to a great start there, but let me give you some more starts as well, because. 66% of women in menopause can't find what they're looking for, but yet the 48 signs of menopause, and yet only most women can only name three to five of them. So this isn't just about brands, helping them find products better, but also educate them to look for particular things as well.
So it's a great opportunity here to serve an underserved audience because. 87% of women in menopause feel overlooked, let down and underserved right now. Now again, this is an opportunity to actually drive purposeful commercial growth if you understand this audience better, and that will bring societal change as well, because another couple of stats I want to really throw at you, but they are important to society.
Nevermind just the [00:03:00] beauty world, but right now. Women in menopause, only 5% will say they feel confident and only 2% are thriving. Now in a world that we're talking to beauty experts and beauty suppliers and beauty brands, if we were really doing our job well. Those stats wouldn't be there. So there is a lot to be improved here with 85% of women saying, my menopause isn't that bad.
It's the role of ourselves to actually take not that bad and make it better. I'm not calling out beauty brands to cure the menopause. I'm asking you to support and, and help women live a better lived experience of that transition time.
Deanna: No, thank you for that and, and soon this company. U lead, uh, I believe will be international for now, it's best known in the uk
Heather: We're in the uk, but give us three moments. We'll be announcing some global markets that we're coming to, so really exciting times.
Deanna: yes. That's fantastic. And, and I would say too that Gen M is best known for the MTI, which you mentioned, which is a sort of [00:04:00] certification or seal, uh, that indicates a product is menopause friendly. I'm wondering if you can help us understand what does menopause friendly mean?
Heather: Well, menopause friendly means that actually what it says on the label, if you are in menopause, this is a product that actually has been certified as being L'S help one of the signs of menopause. But actually it's a trusted sign because you know, and I know in the world of beauty, the word of supplements, there's a lot of products out there that save what they do on the label, but over exaggerate.
Now actually, we cannot afford men washing in this environment. This is a, a category we need to create for those 20% market share, and actually they need trust and efficacy and choice to actually live their best menopause. So the M Tick is a certificate of, um, certification and it's a shopping symbol as well.
But any product that has passed the M tick will actually have gone through a real rigorous. Criteria, pro process with evidence, play-based claims, consumer trials, innovative [00:05:00] technology. We have a a, a a compliance team who absolutely work with the products to make sure that these products are doing what they sell on the label if they say they're for sleep.
That actually they have enough of the ingredients and the right ingredients and the right quality to do what it says on the label. And if it's technology, it's the same. If it's, if the claiming to be cl you know, climate wicking or, or, um, yeah, climate controlling or, or wicking. They have to prove that they can do that because again, it's not good enough to say helps with sweats, you know, it's, it's there.
So to even tighten this up even further, we work with the A SA as well. Any brand that's core absolutely taking their, their advertising or the marketing claims beyond what they should do will look anyone in the in, in Gen M and our collective with the tcom will risk losing that mt because me, as a perimenopausal woman who couldn't find what she was looking for in this period of time, and so we've created [00:06:00] this, haven't got time for men washing and just want the right products and actually.
I do represent those 1 billion women who are time poor, absolutely fed up, and actually this is the most inconvenient thing to happen to them in their life right now. We're busy. We've got the, you know, we've got our families, we've got our careers, we've got our aging parents, possibly don't give me menopause right now is another issue.
We've got. Help me live my best menopause through it. So no time for me washing whatsoever.
Deanna: No, thank you for that. And you know, since Cosmo factory is, uh, we're the global cosmetics, personal care and fragrance industry. Week comes together. Each week. We of course wanna think about beauty products a little bit specifically. I'm wondering if you can give examples from, you know, whatever categories you choose, skincare, haircare, color, any, any beauty category examples of the functionality or benefits that make a beauty product menopause friendly.
You, you mentioned it needs to address one of these 48 signs of menopause.
Heather: You know, you can have thinning hair, you can have an itchy scalp, you can have dry skin, you can have some rose, some [00:07:00] acne.
You can have so many issues here. And actually it's about signposting to some of those beauty products that can help through those periods of time because. Like I say, it's about making today better than yesterday. And actually finding a, a, a cream that do that doesn't impact you. You get sensitive skin.
It's not, it doesn't impact you. It stops your itchy skin. That's one way of starting to make your day feel better and from then on, you know, you can work on it. Sleep, as we know, has a massive impact on how we feel about our beauty. And, and you know, even down to makeup, I don't want to be, um. Vague on this or, or just blissful on it.
But actually, do you know what, if you are in, if you are having a really terrible time with hot sweats, just finding a foundation that doesn't run down your face when you're on a Zoom call or in a meeting or at your daughter's wedding, that's a massive confidence booster to living your best menopausal lives.
So the beauty market, I would love them to look at all the 48 signs of [00:08:00] menopause, from your insomnia to your dry skin, to your thinning hair tear. You, you dry it vulva or whatever it might be. You'll see all of them there, but actually really look and say, right, how can my product absolutely help with any one of these and should we do better side posting?
'cause it's not about having menopause specific products. I'm not asking the world to create new products specifically for menopause. I'm asking you to look on your great category and your great merchandise res of what, which you already know have got great ingredients in which of them. Could help any one of those 48 signs and look to actually help that woman find your product.
If in fact you do believe what it says on the label and you do believe it's a great product you've, uh, created. If it's great and it's right for this woman, market it to her.
Deanna: That's really interesting. It reminds me of something I, I didn't think that this conversation would get around to, but I, I remember when, uh. You know, blue light protection or anti-pollution protection [00:09:00] became much more in vogue and, and sought after, you know, from ingredient companies, from from product formulations.
And a lot of the companies I spoke with were focused on figuring out how to test for those benefits, but often, oftentimes testing ingredients or products already in their portfolio. Right. Does this UV protection product. Also work as a blue light protection product. Right. So as you're suggesting, maybe not developing something new, um, but looking at the, the
portfolio in a new way.
Heather: New product development is essential
and understanding this woman better because actually we have been invisible for too long and we do need to be served better and understood. But equally, you know, back to that product development. You know how long in the beauty world it takes to bring out a new product, have it tested to have it medicinally, you know, scientifically tested, clinically tested, all that well, actually, we as women haven't got the time to wait.
Menopause is now, it's a, it's not a trend, it's a forever market. So start by serving her well with what you've got, [00:10:00] and then as you get to know a better, create even better products that. Might be just be able to be used in menopause or might be even better to be used in all transitions of life, but you've improved the ingredients along the way.
Deanna: thank you for that. Um, you know, I think we have a good understanding of what menopause friendly means, what it means in beauty in particular. I wanna go back to numbers for just a minute because of course, uh, listener. Are very much, uh, business professionals in many cases, if a beauty product has been designated as menopause friendly and it has this, uh, mt IC or certification displayed on the package, or maybe the e-commerce page, do you have evidence that this impacts sales figures or category growth?
Is there
Heather: Uh, absolutely more than, more than enough figures here. and our research and our Kantar research in the uk based on the big retailers now, like Tesco, who are putting designated aisles into stores designated space online and in store, are increasing penetration.
The driving basket size that the average uplift spend is going up. And [00:11:00] actually they are showing, uh, an, uh, an ownership of that audience, of that consumer. Product wise and brand wise, we're actually up to a 24% lift on sales on those, on those menopausal sites. So again, you can see with retailers of 31% uplift on, on sales.
So again, the, the, the MT has only been in these stores for a year now in the uk and that's, you know, it starts as a pilot and it's rolled out into permanency in the biggest, biggest brands we've got.
Deanna: No, thank you for those, those figures. Um, that's very helpful. Um, someone reminded me recently it is possible to be both cynical and optimistic at the same time, and maybe my next question reflects that possibility. Um. As much as we absolutely need to see the menopause consumer to serve and support them.
As you're describing, um, you know, you've mentioned this idea of meno washing and, and what comes to mind for me is, um, something we've long called the pink tax. Right? We certainly don't need something else similar to that. How, how can brands and retailers ensure that [00:12:00] they're not thoughtlessly monetizing this demographic?
Heather: Firstly, they need to think about that. This is their mother, their daughter, their female friend. It's 50% of the population they're actually talking about and supporting and doing, you know, so again, there isn't any PL players for this pink tax, but there is a place to understand this woman better.
And see her. So what I can suggest to brands and retailers is get in her shoes and living her eyes. Actually go on the customer experience of this journey, of this woman who sleep deprived, anxious, overall, possibly got brain fog. See how you're delivering to her and think about how she feels and delivers to her on that.
And do it purposefully and drive it purposefully. Your commercial growth will come because doing the right thing is the right thing to do here. Don't do it because it's just gonna drive that increased penetration in sales, actually do it because the highest rate of relationship breakdowns is in this period, the highest rate of women leaving your workplace, of your, of the companies that were on that is in this period of time, and unfortunately the highest [00:13:00] rate of suicide as well.
So again, we all have a role to play. In making the menopause experience better today than yesterday, I don't want the cynicism that brands are jumping on the bandwagon of this. I want the actual optimism and positivity that brands have the opportunity to change the rhetoric of menopause from fear. To thrive on how they market and how they sell, and if it's done, trusted.
And right now more women feel fearful about menopause than they did in 2020 because the rhetoric's been negative and all about the debilitating, debilitating symptoms. And also it's become very not in, it hasn't been very inclusive because the average woman feels that actually menopause has become very white, middle class and celebrity.
Menopause impacts all, every social demographic, every ethnicity, every culture barrier, every age barrier. You know, menopause is there. So
Deanna: Yeah, no, thank you. Earlier this year here on the Cosmo Factory Podcast, I spoke with Mallory Huron about beauty care for every generation. [00:14:00] And during our conversation she cited statistics on the menopause marketplace similar to those you've talked us through. Um, when I asked her if she thought brands might be avoiding this opportunity for fear of alienating younger beauty consumers, she immediately said yes.
She noted that despite progress, youth is still very much equated with beauty and even. Today, um, it's often unthinkable to invest openly in aging consumers. I'm, I'm paraphrasing her remarks. Those aren't her exact words.
Heather: you know, by all means, you know, it, it, it is something that we have to be concerned about. And when we first brought out the emt, I, many brands went, oh, we can't. Do on our products 'cause it will alienate, well obviously menopause is a taboo, it's something that's a life transition and we need to build a better education.
So actually saying it will alienate, it's actually then we have to turn it back around and say, how are you going to be, make it inclusive? How are you going to make your product actually have the I but have younger women going, wow, this is brilliant. This is a product that can actually. See [00:15:00] me through my life transitions and actually this is a great product that could be used for my mom or my best friend or anything else.
So we've turned it upside down inside out and said, do not look at alienating our research. And now our strict research on the tick has shown now the empty conference package is not, um, alienating. Younger audiences. It's empowering them. It's empowering them to understand more about menopause. It's empowering them to be better prepared for their menopausal journey, and it's empowering them to be better educated about it.
I don't see a problem with that, and actually it's for if the brand is really, really, really wanting to actually do well by their younger audience, show them that you mean good for them for the rest of their lives
Deanna: Mm-hmm. No, thank you. And we have talked a lot about the brand and retail side of things today. Um, the beauty supply chain though, certainly comes into this conversation. Um, I remember it was back. In 2020, I was, uh, still working as the editor of a trade media site called Cosmetics Design. And I remember writing about the launch of an ingredient called Femina from [00:16:00] Croda.
Uh, the ingredient is meant, and I'm gonna quote here, it's meant for women experiencing loss of skin elasticity and firmness caused by glycation and oxidation events related to os osteogenic decline. That's the end of my. Quote from the material on that ingredient. But to put it simply, os Osteogenic decline is, is essentially a hormonal decline.
And I mentioned this cosmetic active because I believe you're working with ingredient suppliers. I think you've partnered, um, in the nutritional supplement sector, uh, with IFF to certify a selection of that company's ingredients. The question I have for you, um. Do we need new ingredients? Do we need more thoughtful product formulas?
As we've kind of touched on earlier, I guess the real big question I wanna ask is how should the beauty industry supply chain get involved here? What's the role
Heather: Well, let's be honest, the beauty supply chain are the ones who make the products for the future. They're the ones that are close to creating products than the brands themselves. So absolutely, they need to be secondary on this. They need to actually understand this audience better had they understood them.
[00:17:00] Decades ago, we'd be in a better place right now. We really would. So is your place for them? Yes, there is. This is all about strategic collaboration. There's that almost manual chain to create a, a category of respect and trust. And that starts with, that starts with the ingredients manufacturers moves on to the brands and then moves on to the retailer, who then moves on to the consumers.
So we've all got to be part of this that's the bit that holds it all together. The tick.
Deanna: Heather, it's, it's truly remarkable how you've championed the menopausal consumer. And I, I thank you for helping us under. Understand this opportunity and for speaking with me here on Cosmo Factory.
Heather: It's, it's been a real pleasure, [00:18:00]