The days of traditional chapsticks may be over as a new company, EOS, Evolution of Smooth is making inroads in the sector. The new spherical shaped tiny lip balm not only looks trendy, but it is also made of organic ingredients and comes in new flavors. For ladies, it means that they do not need to rely on traditional lip balm products.
For years, Americans were using the same lip balm products, which did not change for decades. It seemed that designers in the sector were either too lazy to change chapstick or they were short of ideas. In fact, the sales of traditional lip balm and chapstick continued to grow only because these brands were backed by large pharmaceutical companies and drug manufactures who had contacts in the largest drug chains including Walmart, Walgreen, Amazon and Target(http://www.target.com/p/eos-organic-lip-balm-sphere-summer-fruit/-/A-13352556). Accordingly, it was easier for these companies to fill the shelves without the need for innovation.
In an exclusive interview with the Fast Company, the co-founder of EOS, Sanjiv Mehra, elaborated his company’s idea to take advantage of the situation. According to Sanjiv, it is common for ladies to lose content of their chapsticks inside the bag. Besides, other variants, which forced the consumer to apply the lip balm with fingers is considered unhygienic. Therefore, creating an innovative product that can overcome deficiencies is a good idea.
The success of the new EOS lip balm is evident from the sales of nearly $1 Million units every week. As a $250 Million company, Evolution of Smooth, is poised to further increase its market share as the industry is estimated to reach nearly $2 Billion, by 2020. Considering that EOS sold less units in its first year compared to its existing weekly sales, EOS lip balm certainly seems a trend-setter, which continues to attract more consumers with every new marketing campaign.