Is Business Transparency a Winning Formula?

by Sarah Lazell

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It’s no secret that customers are increasingly suspicious of the products they see on the shelves, and have started to question what they are actually paying for. This is not surprising, when customers simply aren’t sure what they are really buying and if they fit in with their ethics and expectations.

It may be the disappointment of finding out your favorite brand that looked so wholesome is using palm oil or the surprise that the top you are wearing was likely to have been made in a sweatshop, there is a real disconnect between shoppers and the reality of how their items are made. It certainly has become popular in the food industry to name the origins of a product.  However other industries are realising the value of transparency and accountability.

Here are a few companies are using transparency as the cornerstone of their business.

Everlane  whose motto is “Know your factories. Know your costs. Always ask why”, operate a transparent model that is applied to all clothes, so customers can understand exactly what they are paying for. They also have information about all the factories on their website.

Strong brand values are applied throughout their media allowing customers to quickly understand what Everlane are trying to sell and how they are doing it.

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The Ordinary by Deciem brand has been a sellout hit for 2016.

“Within two weeks of launching, 30,000 products had been sold. It became an overnight global phenomenon and it has been said that this is one of the most important skincare launches in the history of the beauty industry,” said Gill Sinclair co-founder of Victoriahealth.com.

Their ever growing product range shows basic black and white packaging and in stripped down to the basics.

The founder of Deciem, Brandon Truaxe explains  “The Ordinary brings to market ingredients that are well known, well proven, but typically overpriced and disguised as "new" innovation,” explains Truaxe. “There is nothing "luxurious" or "educated" about overpaying for commodity, no matter how effective that commodity is. Skincare is not like fragrance or fashion––it's functional and it's not about telling stories."

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Beauty Pie is a beauty buyers club for makeup, offering a transparent pricing model.

Members in the US and UK can buy premium quality makeup at factory cost.

The brand is still fairly new and currently only offers a limited range. However it has said that in the future it hopes to be able to create exact lipsticks and eyeshadows worn by celebrities on the red carpet within six to eight weeks.

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