The Olay Retinol24 range consists of three products including a serum, night cream and eye cream which all retail at S$54.90 ($38.40).
The range was first launched in the US in 2019. According to the brand, it currently sells an average of two jars of Olay Retinol24 a minute stateside.
The success of the range in the US has prompted the brand to launch in Singapore, Thailand, the Philippines, Australia, and Malaysia this month.
The Procter & Gamble-owned brand told CosmeticsDesign-Asia that this launch was geared towards millennial consumers, who in their 20s are likely to begin using restorative skin care.
“Our research shows that this millennial age group spend considerable time juggling their work and private lives and as a result, understand the importance of transformative products that can help their skin recover as they sleep. This makes the new range perfect for millennials,” said to Alexandra Vogler associate director, P&G beauty digital transformation & communications.
Additionally, Olay’s research uncovered that 44% of millennial consumers have not heard of or tried retinol, highlighting untapped opportunities for the brand.
“By launching this ground-breaking range, the brand hopes to connect our millennial consumers with products made of retinol, an ingredient known in the skincare industry as one of the most reliable and effective skincare ingredients,” said Vogler.
She highlighted that even though the range consisted of multiple products, consumers did not need to layer them to see results.
The range was designed this way to help busy millennials get effective skin care while saving time on their beauty routine.
Vogler claimed that consumers could expect to see visibly plumper skin in 24 hours and see “true skin transformation” after 28 days.
Engaging millennials online
In order to reach millennial beauty consumers in Singapore, Thailand, the Philippines and Malaysia., Olay partnered e-commerce platform Shopee to launch the range on Shopee Super Brand Day.
“Shopee is one of the largest e-commerce platforms in SEA and as millennials tend to do most of their shopping online, partnering up with the brand for Shopee Super Brand Day made perfect sense to increase awareness of the new Olay Retinol24 range as well as highlight other Olay products,” said Vogler.
To celebrate the launch of Olay Retinol24, shoppers were able to purchase the range at a promotional price and buy other Olay products at up to 50%.
To enhance its digital strategy, Olay collaborated with global communications agency, Saatchi & Saatchi, to promote the range.
The brand worked with the agency to release two advertisements for digital platforms such as Facebook, Instagram and YouTube.
The ads target “hardworking millennials who regularly burn the midnight oil and who do their best to juggle a work-life balance”, said the brand.
Vogler said: “Olay has always been at the forefront of connecting consumers with the best beauty solutions. Our strategy to connect with millennials via e-commerce and social reflects the steady shift of media consumption and consumer spending habits”.