Ipsy CEO Marcelo Camberos on pandemic-proofing: Make every offering 'worth it' for the customer
When Covid-19 hit the U.S. in March, Ipsy, like all beauty companies, had to rethink its year ahead. But CEO Marcelo Camberos said he hoped the larger economic and consumer changes would allow Ipsy, best known for its monthly subscription Glam Bags, to become "a bigger part of members' lives." "In this world where they really need us, where it's much harder to go to physical retail and feel confident doing so, how can we provide more value?" said Camberos, on the most recent episode of the Glossy Beauty Podcast. "We thought that the key way we could do that was to give them more control." Ipsy aims to give its customers more control by allowing them to choose the merchandise that they get in Ipsy's Glam Bags and to offer more personal care products in tandem with beauty. Camberos said the big question for his team when thinking of customers is always, "Was it worth it for me this month?" in regard to the monthly shipment of products. And this line of thinking has been applied to all of Ipsy's franchises, including its events, which the company had previously gone heavy on in 2019, and incubation, as seen in its August launch of Item Beauty with TikTok star Addison Rae Easterling. "We probably changed more than half of our business initiatives for the year," said Camberos of the company's pivot. "This is a new world; we need to act quickly."