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Recently, Luxe Pack's Marketing Director Nathalie Grosdidier met with WEBpackaging at Luxe Pack New York (May 15-16 at the Altman Building and Metropolitan Pavilion) for some insight into the show and the luxury packaging sector. With almost three decades of experience in the beauty exhibition business, and 165 exhibitors offering new innovations and discussions on market growth, the event was undoubtedly a success.
The Luxe Pack packaging exhibition got its start 26 years ago when Luxe Pack founders recognized a need in the market for a show which could offer a high quality, high end focus on beauty, spirits, and fine foods. The exhibition series was spun off from its flagship show, Luxe Pack Monaco.
Ms. Grosdidier said, "Luxe Pack Monaco is different from New York in that it is open to everybody. New York has grown, bringing in 2,607 visitors in 2012 (potential buyers) and 165 exhibitors in 2013. Of the three top industries presenting, cosmetics leads at 65%, followed by fine food, and spirits. Visitors are now primarily from New York, which is the beauty packaging hub of the US. However, West Coast attendees are growing, and internationals are around 5%."Even in a global economy afflicted by harsh downturns, Luxe Pack and the luxury segment continue to do well. According to Mintel market intelligence, since 2010 there has been a 7% increase in budgets for product launches in colour cosmetics, skin care products, and fragrances. The "super-luxe" category accounts for the largest part of this, with a solid 48% increase.
A key challenge proves to be the rapidly changing consumer. Defining and segmenting consumers, and offering them an adequate value proposition proves to be a difficult task; even more so for international brands that must adapt to different regions. It would appear, for example, that the "masstige" category is a beauty breadwinner when, in fact, it only saw a 6% increase in budget from 2010. One thing is certain, there are many variables to consider within beauty and cosmetics, and everyone investing in this market must rely on knowledgeable sources, like Luxe Pack, to stay on top of the latest innovations and trends.
Sustainability is also an important factor, and was rightly addressed at the show. As Ms. Grosdidier tells us, "The difference between sustainable solutions now compared to years ago is that they are no longer just a design element used for marketing. Packaging leaders fully recognize the need to provide sustainable products, long term.
They are more efficient now; perhaps not as flashy and visible as in years past, but more valuable and effective." The next Luxe Pack show, Luxe Pack Monaco, will take place October 23rd to 25th, 2013 at the Monaco Grimaldi Forum.