Hims, the telehealth startup, saw its shares slip in their trading debut — and that’s fine with its CEO
Tech Crunch | 21 January 2021
There are a number of core differences between us and public and private players. First is our real focus on diversifying our offerings. With our focus on sexual health, dermatology, primary care and behavioral health, it’s in our DNA to quickly expand into new businesses. We also think we’re different from most [rivals] in that we really invest time in building deep relationships with [those who represent] the future of healthcare markets — people in their teens, 20s and 30s. This demographic has a different set of tech expectations and consumer expectations than people in their 40s, 50s and 60s, and if we want to build for the future, that means building for the largest body of payers in the future. Traditional healthcare companies monetize only the sick, but optimizing around that demographic precludes you from understanding what the next generation really needs and wants. I’ve never seen such a divergence between a patient population and legacy experience, and that’s a real advantage to us as a business.
7 Ways Versed Became The Fastest-Growing Clean Brand In Skincare
Forbes | 20 January 2021
The brand is accessible and affordable When it comes to beauty products, performance and price aren’t as tightly linked as you might think. It’s a well-known secret that sometime mass and prestige formulas aren’t all that different—it’s the bells and whistles that set them apart. “Versed has the most rigorous clean standard within the drugstore price point, which stands up to prestige brands,” Bender says. “How do we peel out all the cost drivers that don’t bring value? The cost of packaging, such as custom componentry, can be more than the product that goes inside it. Buzzy ingredients, like CBD, are expensive to get into the formula and there is not a lot of data showing they’re all doing what they need to do. Those things that make products exclusive keep them exclusive. All the opportunities that we lean into, like stock componentry, let it be more about the formula. Rather than believe that we needed flashy packaging and celebrity names, we build it based on values. That’s helped us reach that critical scale that welcomes everyone in.
Business Takeaways From The First-Ever The Pro Safety Beauty Summit
Beauty Independent | 22 January 2021
- Get creative to find solutions
- Struggling doesn’t mean failing
- Consumer buying has become deeply emotional
- The ‘New Normal’ will be the norm
- Virtual consultations are transforming sampling
- Technology is deepening customer connections
- Covid-19 has accelerated wellness conversations
- The market is hungry for indie beauty
- Identify opportunities in the covid-19 market
- Virtual platforms enable efficient collaborations
- Strategize ways customers can safely navigate retail
- Brands have to be digital-first