Beauty business is recession-proof – Adedeji
By Olatoyosi Oladapo
Miss Lola Adedeji, a seasoned entrepreneur and CEO of Curlla Hair and TL Global, has described the beauty business in Nigeria as a recession-proof subsector.
The beauty business guru made this known in an exclusive interview with MARKETING EDGE on TV crew recently, where she discussed issues ranging from lack of proper education in the beauty sector, lack of privacy, the growth and challenges of beauty business in Nigeria. The beauty business guru established that her love for the industry is centered on its recession proof characteristics.
Her words: “The reason why I love this business is that it is recession proof and technological invention cannot negatively affect it. Regardless of what happens in the society, everyone wants to look good. The guy wants to cut his hair, the ladies want their lashes and nails on.
“Despite the economic challenges in the nation, the beauty business will thrive because people don’t want to look like what they are passing through. It a recession proof sector; however, you need to be sensitive as to the purchasing power of consumers in order to properly advise them on how to maximize their money.”
Miss Adedeji added that despite being recession proof, the beauty business is also formidable to any technological invention.
“In terms of technology, when it comes to beauty, especially hair, you need the human touch. Some method of operations have been taken over by technology, no doubt. AI can help you to see the finish product, visualizes styles, but for those styles to become a reality, you need the human touch. So, AI can help out not threaten. AI can work with us, but can’t take over the industry,” she said.
Speaking on the challenges the beauty business is encountering despite been recession-proof, Miss Adedeji said: “Number one challenge is lack of education. I think a lot of people need education. Most times, we follow the trends without proper enlightenment or education or some findings. People don’t discover what is good for them as there is no one-size-fits-all in the industry. So you need to be educated about what works for you. Not everyone can wear everything, even if we want to wear it. People want to follow trend that is not good for them.
“Another challenge is fake product. People are vulnerable fake products as most just want to make profit, so they are not really interested in the process. The few challenges are misinformation, lack of good products and clean spaces. You have to help your clients, understand what your clients want and what is good for them and slowly walk them into it.”
Urging Local Manufacturers to be up to par with international beauty brands, Miss Adedeji pointed out strategies that can be used to achieve this.
“Foreign products have a great impact on the market. I think local products have not positioned themselves well. I am hoping that Nigerians can also step up to the challenge, and get to the point where they compete favorably with foreign brands. There is an art in making and creating a product. There has to be some sciences and backing to your product before Nigerians can trust and use it.
“To be up to par, local manufactures can, firstly, buy and get our trust. You have to get people to trust your product, not just use your product because you are a Nigerian. People should trust you because you are a Nigerian and intentional. You should be transparent in your process and you should be able to convince us as to why we should choose you over the next person. Then when we trust you, we will use your product.
“Secondly, forget excessive marketing but focus on product quality. If your product is good, people will use it and testify. This local brands have to get us to trust them; improve on quality because if the product is good, we will use it.”
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