EOS is a company that was founded just a decade ago but was able to emerge in the lip balm industry as one of the dominant players. Their road to success was outlined in an article in Fast Company and was insightful in displaying what it takes to succeed in the business world today, particularly as a smaller nimbler competitor taking on more established competition.
The lip balm market had not kept up with the changing tastes and preferences of consumers and the product offerings for sale at the time that EOS lip balm emerged were antiquated and designed for the tastes of consumers century before. While the need for lip protection from the elements had not changed, the options available for ingredients.
Consumers were no longer seeking out synthetic sounding and flavored products and were instead looking for something straight from nature to apply to their lips. This trend was by no means different than the trends for other skin care and food products. The lip balm market was just slow to react to these trends and were simply monetizing their current product offerings.
When EOS, as a smaller competitor entered the market they were able to take risks and create a better lip balm that met the needs of the segment of the population who was seeking better products. EOS designed a lip balm that as only using natural and mostly organic ingredients that were sourced from premium oil bases such as coconut oil and shea butter which were more effective than what the competition was using.
While these products cost a premium price on Racked, they quickly realized the superior nature of these ingredients and latched on to EOS which propelled the brand into the big league locking horns with established brands. In just a decade EOS has come out as the leading brand for premium lip balms that customers love and trust.
EOS Facebook: https://www.facebook.com/eos/