Go Beyond Boundaries: Understanding International Benchmarking

For the fashion and beauty industry, professionalization and continuous improvement have become essential for both professionals and companies to achieve success. Staying ahead of trends and maintaining a competitive edge is crucial. There are many ways to gain insights, and one of them is indeed international benchmarking.

International benchmarking stands out as a beacon of strategic acumen. Its comprehensive approach not only fosters innovation but also reshapes business trajectories, ensuring sustainability and growth.

In this article, we’ll dive deep into international benchmarking and its possibilities. We’ll explore its implications for the fashion and beauty sector. Additionally, we’ll examine how it can empower companies and careers by facilitating an understanding of trends, competitive advantage, innovation, and community transformation.

International Benchmarking – Understanding the Concept

International Benchmarking is a strategic process where companies assess their performance, practices, and outcomes against the world’s best-performing organizations. It involves a well-crafted analysis of industry standards, operational processes, customer relationships, and innovative practices globally.

By identifying gaps and areas for improvement through International Benchmarking, companies can align their strategies with international best practices. This elevates their overall performance and market positioning.

International Benchmarking in the Fashion and Beauty Industry

In the fashion and beauty sector, trends emerge and vanish in the blink of an eye. Therefore, companies and professionals in this area need to keep up with everything happening around the world, especially with social media and globalization.

• What was seen on the latest international runways?
• What are creators and influencers wearing?
• Which brands are trending now?
• Can we predict what’s next?
• How did this brand come up with this idea before everyone else?

In summary, International Benchmarking acts as a compass, guiding companies to navigate the complexities of quickly and excitingly answering these (and other!) questions.

It allows professionals to compare their creative designs, production methods, marketing strategies, and customer experiences with renowned international brands. By adopting successful practices from leading entities, companies can enhance product quality, optimize manufacturing processes, and create captivating marketing campaigns, thus gaining a competitive edge in the market.

But if International Benchmarking is vital for all companies and professionals, how can you differentiate your approach to stand out?

Empowering Businesses and Professionals

1. Understand Trends

Good international benchmarking provides invaluable data on global fashion and beauty trends. What’s hot now and what will be next season are just the basics.

By analyzing brands worldwide, companies and professionals gain deep insights into emerging styles, materials, and consumer preferences. In other words, it’s when you understand what’s already evolving and how it can contribute to what you’re working on.

In other words, this understanding allows for anticipating market demands.

Furthermore, it opens space to enhance product development and meet your community and target audience’s evolving tastes, thus promoting ongoing relevance in the industry.

2. Stay Ahead of Your Competitors

The math is simple – at least in theory. If one has the expertise to at least predict what will be trendy, they can start working on it sooner and pioneer in some way.

A comprehensive study that offers good insights into how international companies create remarkable moments gives a clue about their strategies and what they did to achieve their goals. It’s a moment of inspiration and education that can be transformative.

By leveraging these data, companies and professionals can:

• Identify their selling points, new solutions, and technologies;
• Understand how to stand out in their community;
• Invest in innovative ideas;
• Create a solid branding strategy.

3. Innovate!

International benchmarking promotes a culture of innovation. By adopting cutting-edge techniques and developing creative approaches worldwide, companies and professionals gain a competitive advantage. In other words, it’s not an easy path, but it ensures the opening of unimaginable opportunities.

And it’s important to expand the mind! Innovation can range from product design and conception to the manufacturing process and customer interaction.

This innovative spirit not only elevates companies individually but also contributes to the overall growth and dynamism of the local fashion and beauty community.

4. GO BEYOND!

You can perform common INTERNATIONAL BENCHMARKING, or you can go beyond.

Participate in the Market Insider Experience: a carefully crafted itinerary in New York that is more than a trip – it’s your backstage pass to the global fashion and beauty arena.

Exclusive insights, hands-on experiences, trend forecasting, cool hunting research, branding consultancy, and connections will put you ahead of the curve.

What will you gain with the Market Insider Experience?

• Experience the Big Apple during the exciting fashion week;
• Exclusive workshops and lectures;
• Access to fashion shows;
• Insights from Trend Forecasting and Cool Hunting;
• Conversations and experience-sharing moments with renowned agents from the fashion and beauty industry;
• Accommodation in the heart of New York and 2 meals per day.

The next group departs in September 2024. Do you want to change the future of your professional life and company? Join the next experience!