In this day and age of e-commerce, the cosmetics industry has had an upsurge of its sales and revenue. This is somewhat unexpected as cosmetics and beauty products are clearly non-essentials, especially during this pandemic. Multi-channel strategies have allowed the cosmetics industry to thrive through e-commerce.
There are many ways that the cosmetics industry has advanced with the support of e-commerce. Advancements in digital technology have helped revolutionize online shopping. This has made marketing cosmetics and self-care products easy. Since cosmetics are for appearance, coming up with e-commerce marketing strategies are easier because basically e-commerce relies on visualization.
Here are some things you need to know about cosmetics marketing in the day and age of e-commerce;
- Legacy brands have always taken up a majority share of the e-commerce revenue. However, this hasn’t stopped new and upcoming brands from introducing new products that appeal to the much younger and trendsetting market.
- The beauty and cosmetics industry is projected to have a revenue of $715 billion by the year 2025. A majority of this number is projected to come from the Asia Pacific and North American regions.
- With the prominence of online retailing, legacy brands have started internal restructuring and coming up with new marketing trends and strategies to maintain the lead.
- The major factors that contribute to consumers’ preference for online shopping over retail shopping are the following;
o 24/7 shopping option
o Door-to-door delivery
o Variety and diversity of products
o Product availability
o Ease of shopping
o Online promos and discounts
o Constant updates on new products
- Beauty bloggers and vloggers contribute greatly to the rising demand on cosmetics. Their tutorials, reviews and unboxing videos and blogs offer first-hand accounts of various brands and products. This gives consumers the ability to make informed decisions before even purchasing certain products.
- Innovation drives sales. Example of this is Fenty’s strategy to provide for the underserved majority and offering a far diverse option when it comes to foundation. This innovation was met with great enthusiasm and appreciation as many finally found a tone and color specifically for them.
- Social media is also a great driving force for cosmetics and beauty e-commerce. An estimated 3.6 billion people in 2020 have social media accounts. This is the reason why many brands have used various social media platforms to promote and market their products and services. This is where influencers come in. Influencers and celebrities with millions of following have been sponsored by many brands to become their ambassadors to use and endorse their brand and products. This marketing trend allows the multitudes of social media users to be introduced to new products. Brand visibility on social media is a marketing strategy that has been known to increase product sales and revenue. Links and tags on posts direct the consumer directly to online shopping sites.
- Brand websites and social media accounts funnel in sales, however, multi-brand platforms and mass merchandisers dominate the market. Consumers have also gravitated toward multi-brand platforms due to the variety of choices and diversity. The great thing about multi-brand platforms aside from the variety is the ease in which you can choose products specifically meted for your needs. Click here to see a great example of a diverse multi-brand platform focused on cosmetics and beauty.
- The average person spends almost an hour and a half researching brands and products before actually making a purchase. This is why online marketing should be strategically planned and implemented to ensure that your site doesn’t only garner traffic but website visits translate to sales.
- Brands have also gravitated towards “clean beauty”. This basically promotes natural and organic cosmetics. The consumer demand for non-toxic and organic products have had manufacturers adapt to this request. The need to be globally and environmentally aware and conscious has affected many, thus the need for more organic and natural products and packaging.
- Search engine marketing targets ads to help drive data to customers’ feeds. Basically, product optimization will rely on searched data, such as product names or product descriptions. This strategy is greatly utilized by the beauty and fashion brands.
- Email marketing has also greatly contributed to the surge of sales for cosmetics and beauty e-commerce. Email subscriptions are great at highlighting products and consumers always subscribe to website or brand newsletters to keep them updated on new products and upcoming promos. Email marketing is also a way to make the experience personalized. Consumers have the desire to feel exceptional and respected.
It is important to remain relevant and distinct with the ever-changing e-commerce climate. For the beauty industry, constant innovations partnered with shifting and progressing marketing strategies will keep brands and products on top of the game. We’ll all just have to keep our eyes glued to our screens to see what’s new and what’s hot online in the cosmetics industry.