With an anticipated elevation towards online trade business and e-commerce several tough questions arise
Will online business promising convenient delivery, broader products collection, competitive pricing, and access can replace the in-store experience or hamstring the traditional retailers’ sales and profits?
How can online suppliers earn loyalty? And what steps should beauty brands and suppliers take in present and in future to conserve their market share in the highly competitive beauty and personal care niche
Well these questions are one to be pondered and the need to answer cannot be ignored.
Lets’ dive in to explore how multichannel panorama for beauty and personal care has been changed
A trend analysis of the beauty industry
The analysis of e-commerce expansion in the beauty and personal care industry unveils that sales elevation, allegedly induced by the consumer demand, is a resultant of the highly sophisticated distribution channel ventures and brands that have evolved from their digital capabilities and overcame barriers to adoption.
What actually a consumer demands?
Skin-care products and color cosmetics are repeatedly purchased online. Earlier before a couple of years color cosmetics has been considered as a commodity that is more needed to be tested in stores however, with the expansion of technology the sales leap can be a consequence to the frequent use of the online distribution channel for trial through wise sampling and the rise of virtual testing tools, as well as the open room to accept returns.
When its’ the matter of meeting expectations of the consumers, finding the best prices, with perks of free shipping and secure sites consumers consider them above all when shopping for beauty and personal care products, however, finding the best prices prevails above all
Tame your monster!
For wholesale beauty supply distributor success is defined by the strength to create and develop sustainable relationship with consumers and long term value of those relationship. The recent year’s study has revealed that online retailers and wholesalers are doing a better in terms for enhancing trade rather than building long term ties. On the contrary the consumers are highly engaged in switching and seeking satisfaction from the at least 5 and to average 20 online sites at a time
In this rapidly changing world, every beauty and personal care distributors require to give their strategies, a second thought to figure out how to maximize profits, and prior to, master to listen to the voice of a new, empowered consumer.
Bringing into knowledge the recent years priorities
Must optimize their Omni-channel capabilities
Communicate with authenticity
Give in some power;
The ever increasing challenge of loyalty, the daily requirements on retailers, distributors and brands to deliver an everlasting experience between online and offline, and the urge to “give up some authority” to new ways of influencers, are indicators of the present condition of the beauty industry.
Achieving success in this new environment will need an artful implications of the various tools and industry stakeholders that came to journey through the digital path so forever change the way consumers shop and relate to beauty.