Lip balm was always meant the small tube of Chapstick for all. It included the tasteless variety along with the boring cherry or mint flavors.
This was the story seven years ago. It has all changed today. There are orbs of lip balm that can be seen popping up almost everywhere. They are called EOS. These are pastel colored orbs that look so elegant and lovely. First, they started with Walgreens and moved on to walmart.com, and now to Target. These have highly innovative flavors that include honeydew besides grapefruit. There are a host of celebrities who can be seen endorsing them.
EOS refers to Evolution of Smooth. This company is worth $250 million today. Today it is having the second highest sales in lip balm today. The first place is occupied by Burt’s Bees. EOS has already managed to displace Chapstick along with Blistex.
Currently, over a million units of EOS are selling each week. The future prospects also look good as the lip care market has been projected to increase all around the globe. It is expected to reach $2 billion by 2020. In addition, the demand for natural products is always on the rise. It is a specialty of EOS, read this article.
This company started as a small startup. The attention of the company was on creating products as well as distributing them. This was when they came across the lip balm. It appeared to them to be a prime candidate as it lacked innovation. Here innovation was only in terms of cutting cost. The competition was only on price. Hence EOS looked upon this as an opportunity for them. See also https://www.evolutionofsmooth.de/ for more.
Earlier, lip balm was considered to be a unisex commodity. This is when EOS did consumer research and realized that women used this product much more. They faced another issue of losing their lip balm in their big handbags. So pots of lip balm came about, shop now at amazon.ca.