Fast Company offers an interesting look at how EOS lip balm evolved from an upstart startup to a household brand in just seven years. You can check out the full article here: https://www.fastcompany.com/3063333/startup-report/the-untold-story-of-how-lip-balm-upstart-eos-outdid-chapstick.
EOS lip balm has been able to compete in the saturated drugstore lip balm market through innovation. They started with a product design that solved a lip balm problem that women have grappled with for years: the tubes are easily lost. Rather than the traditional tiny cylinder, EOS lip balm opted for a sphere that was easier to lay hands on in the depths of a handbag. They paired this fun, innovative design with organic ingredients to create a product that was a cut above the lip balm typically found in the aisles of a drugstore.
What really sets EOS apart from brands like chapstick and burts bees is their marketing strategy. EOS is a product that Target women; specifically millennial women between the ages of 25 and 35. EOS operates on the assumption that anything that a woman uses every day should feel fun and exciting. In an effort to make their cute, round lip balm feel that way to consumers EOS has focused on placing their product with style influencers and Facebook beauty bloggers in order to create a buzz around it. They also worked with millennial celebrities like Taylor Swift and Demi Lovato on product placement and endorsements. The result is that EOS currently sells over a million lip balms a week. They have become a household product just seven years after breaking into the business.