The Story Wave 14

1: Eli Lilly: Drop in Price, Increase in Esteem – Case Study

Insulin costs in the United States have risen more than 300% over the last two decades. US prices often far exceed insulin costs in other countries, which has placed a substantial financial burden on the 8.4 million Americans who rely on insulin to survive. 

• March 1, 2023, Eli Lilly and Company announced that they were decreasing the price of their insulin by 70% and capping out-of-pocket insulin costs at $35/month. 
• According to QuestBrand data, Eli Lily saw a significant increase in purchase consideration among diabetics and adults with diabetic family members after the price drop. 
• US adults familiar with the Eli Lilly brand more often described the brand as customer-centric (+8.5) and trustworthy (+7.2) in March than they had in February. 

Download our case study for the full story!

2: Estée Lauder makes a play for Gen Z – Brand Story

Estée Lauder, the second-largest cosmetics company world-wide, is known for having a more mature buyer. To maintain long-term industry relevance, they’ve adjusted their marketing strategy to appeal to the youngest demographic of adults – Gen Z – by engaging with the metaverse and TikTok. 

• It’s evident that the cosmetics giant has a lot of room to grow with this young audience when we compare Estée Lauder’s QuestBrand sales conversion funnel for US adults versus just Gen Z adults. 
• Across every phase of Estée Lauder’s sales conversion journey, overall US adult consumers outpace Gen Z consumers: brand awareness (+34.5), brand familiarity (+23.5), product trial (+16.9), product usage (+11.8), and brand recommendation (+8.4). 
• Check out our brand story to discover how and why Gen Z’s purchase consideration is growing. 

3: How can Brands Capitalize on the Self-Care Trend?

In a recent Ad-Age op-ed, Harris Poll CEO Will Johnson exposed recent self-care trends and explained why brands should take note.  

• Seven-in-10 (68%) Americans consider self-care “very important.”  
• Three-quarters (74%) of US adults are willing to splurge on self-care. 
• Two-thirds of Americans engage in self-care by listening to music or watching content (i.e., TV show, movie). 
• Women more often than men indulge in time alone (69% women, 60% men). Men more often practice meditation (36% men, 31% women). 

Want to learn more about self-care trends? Download our Personal Care Industry Snapshot.