Introduction: In this column, Rituals Founder and CEO Raymond Cloosterman reflects on dynamic shifts in consumer behaviour in 2023, highlighting the brand’s travel retail growth and its commitment to affordable luxury. As the demand for high-end luxury slows, Cloosterman unveils Rituals’ strategy for catering to evolving Asian consumer preferences, emphasising affordability, cultural resonance and sustainability, with a spotlight on The Legend of the Dragon collection.
This year has been a period of growth for Rituals Cosmetics in travel retail and beyond. With numerous store openings around the world, unveiling of concepts and a strengthened commitment to delivering clean and conscious well-being collections – 2023 has been strategically important for our brand growth.
Rituals must adapt and deliver as consumer habits continue to evolve and change. Affordable luxury is having its moment as the demand for high-end luxury slows down, and we are perfectly positioned to benefit from this dynamic. Rituals sits at the perfect sweet spot for consumers looking to indulge in a luxurious experience without breaking the bank.
Industry research indicates that high pricing is the top reason why consumers don’t make purchases within the perfumes & cosmetics category. We challenge this with our friendly price points that deliver value proposition.
Affordability is not the only important factor for customers, they also give value to the shopping experience. As such, Rituals ensures the customer journey creates a sense of belonging while providing a deeper understanding of the brand to cultivate strong consumer connections.
The evolving Asia Pacific traveller
Asian travellers, particularly Chinese, are returning to global travel retail. Booking.com reported that one third of Chinese travellers changed their plans from domestic to international as soon as restrictions were lifted.
This presents the perfect opportunity for Rituals to re-address consumer preferences. In 2023, we solidified our commitment to expanding in the region; through a growing presence in travel and mainstream retail, we are delivering our affordable luxury wellbeing mandate to an engaged Asia Pacific audience.
The timing has never been more optimal. Factors [click here for research source] such as rising disposable incomes and the growing popularity of skincare products made with natural-origin ingredients place Rituals in a strong position to enhance its brand in Asia.
The Legend of the Dragon
Rituals was created to impart the Art of Soulful Living and the brand draws its inspiration from the wisdom and tradition of ancient cultures – an approach that has resonated with customers around the world. We meaningfully create every collection to enrich the lives of consumers, adapting to their changing habits.
Since we are growing in Asia, our latest limited-edition collection comes at the right time. We were inspired by the ancient tales of Chinese imperial dragons and their mythical powers and strength, culminating in The Legend of the Dragon. The products in the collection are infused with the captivating scents of plum and cedar wood, representing an opportunity for people to turn inward and reflect on their inner strength and power.
The Legend of the Dragon was created for customers around the world. As the Chinese cosmetics market rapidly grows, driven by a strong economy and demand from young customers, Rituals understands the importance of investing in visually appealing and culturally relevant packaging. Our attention to detail allows us to authentically cater to local preferences and drive our footprint in Asia Pacific.
Packaging and cultural resonance
In Asia, the symbolic importance of colour runs deep. The Legend of the Dragon campaign features red, which is considered to be an auspicious colour symbolising good fortune and joyfulness. It also features gold accents representing wealth, luxury and prosperity.
Rituals incorporates both colours into the campaign, not only through visual elements but also in product development with the Gold Foaming Shower Gel – infused with a golden formula – and Golden Body Scrub. Through this, we deliver more than a product; we deliver an immersive experience that resonates with local cultures.
Colour goes hand in hand with packaging; research shows that Chinese consumers value packaging design when buying cosmetics. With only a few seconds to grab a customer’s attention, Rituals has ensured the products are bold, eye-catching and emanate luxury. The red-and-gold statement dragon present on 80% of the collection’s products stands out in the stores. It also reminds consumers to set their intention and channel their inner power.
Eco-friendly, lifestyle-based packaging is another way to cater to our consumers’ needs and wishes. This is an area of expertise for Rituals as we have been committed to sustainable packaging since our inception. As part of our commitment to continuously improve our social and environmental impact, we aim to deliver packaging that’s recyclable or made of recycled material.
Beautiful packaging with cultural relevance is a strong starting point for Rituals to make its mark in the Asia Pacific region. However, in today’s consumer environment shoppers want more. They crave exclusivity, sustainability and localisation. The Legend of the Dragon taps into Chinese buyers’ love for limited-edition items [click here for research source]. It adds an air of exclusivity and makes it a must-have collection, adding more to the value proposition.
A green approach
Sustainability is important to Asia Pacific consumers who look at it holistically, considering ingredients, packaging, production and brand mission. This aligns with Rituals’ values and operations.
All products from The Legend of the Dragon collection, except the Car Perfume, contain at least 90% ingredients of natural origin. Rituals’ B Corp status further solidifies our credibility in this industry, creating trustworthiness and transparency between us and shoppers.
This is key because in the Chinese beauty industry building trust through transparency and quality assurance is crucial for success. Chinese consumers place a high value on product safety and quality, and we are committed to meeting and exceeding their expectations.
Local relevance, global resonance
The Legend of the Dragon draws on a universal idea that we all have an inner strength, resonating with consumers from around the world, but especially resonating with different cultures in Asia.
By incorporating the dragon, an ancient Chinese symbol and a zodiac sign that plays an influential role in cultural beliefs, we deliver an aesthetic collection that also possesses cultural significance.
The Legend of the Dragon’s Eau de Parfum captures this balance perfectly. Aptly named Auspicious Dragon, it has a beautiful design on the bottle, nodding to the importance of the symbol. It’s also important to note that 2024 will mark the beginning of the year of the dragon in the Lunar calendar, which makes this a timely release that consumers can benefit from.
This collection has thoughtfully been created to cater to consumer preferences at every stage – from packaging and sustainability focus to brand experience. We are confident that communities around the world will immerse themselves in this luxury collection that delivers a moment of bliss and beauty.
With the festive season around the corner, we hope shoppers gift with kindness. The Legend of the Dragon features a few options, including a beautiful Gift Set box and a Perfume Tassel Set – sure to add a touch of joy and prosperity to the lives of loved ones. ✈
