The e-commerce industry has shown scope for the rapid rise in the past few years. It has taken over the business world by storm, leaving several industries in ruins in its wake. However, the beauty industry seems least bothered by this and is, in fact, moving up at a fast pace to reach around 750 billion dollars by 2024. One can go as far as to say that the e-commerce industry has actually boosted the beauty industry in unexpected ways with more and more people in the beauty business using the online business world for their own advantage.
For any online beauty business to grow, there are several trends to be followed religiously, as is being done by every new individual beauty brand popping up almost every day. The beauty industry is exploding, and competition keeps increasing day by day. Nevertheless, there are a few things successful beauty brands do, such as these:
Instagram is perhaps the best platform for young beauty brands to kick start their business. All one needs, apart from the products, is an innovative way to sell them. As consumers are getting tired of buying the same old makeup products from the same old brands, new beauty brands step in like a breath of fresh air.
From out of nowhere, you are bombarded with advertisements of the latest trending brand in your Instagram feed and you are engrossed; the product package is colorful and chic, there is a thoughtful and catchy phrase written on it, the design is minimalistic and creative, and they also customise the products based on your exact needs and specifications. There is even a good discount and free shipping. You casually check out the product page and come across numerous testaments from regular users of the product, as well as interesting beauty tips, tutorials, and offers.
That’s not all. You later watch a video of your favorite Instagram influencer apply the makeup aesthetically and talk about how incredible it is. The video has thousands of likes, and people are commenting on how amazing they found the product too. You realise that you need to buy the makeup since all the celebrities are using it and manage to look fabulous. This is how many beauty brands make their presence known online.
In the case of the above-mentioned kind of marketing and consequent sale, it is often the supply that shapes demand and not the other way around. Several beauty brands have found themselves growing at a rapid rate by using such innovative tactics. Instagram gives you a space to be creative in your content and also in the visual aesthetics while trying to advertise a product. With the large number of young users that Instagram has, it is the perfect place to let the world know about what you want to sell, without spending as much on advertising as necessary on other platforms. Instagram stories can be used to the seller’s advantage, offering short and quick reminders of the beauty products with tutorials, personal experience snippets, and so on. Moreover, there is a better scope for direct interaction between the customer and the seller; you can just send them a message in case of any queries.
Shoppable posts on Instagram have become available in 44 countries as of now, and statistics show that 72% of consumers have admitted to making fashion and beauty related purchases just after learning about them on Instagram. The statistics point favorably well at Instagram marketing and prove that it’s not just a fad or gimmick that will die out soon. In fact, with more and more people joining Instagram per day, things are looking up for this platform in the future.
The beauty industry in the previous decades was not particularly tolerant or accommodating of diversity; the fact that people have different skin tones, types, and so on were more or less ignored. But now, beauty brands that cater to sections ignored by the beauty industry earlier are rising amidst much fanfare and popularity.
For instance, Rihanna’s Fenty Beauty was almost revolutionary in the way in which consumers responded to it since it was one of the first of its kind to be inclusive of all skin types. It was appealing to many as it was like a backlash against traditional beauty products more so than anything else.
Consumers have always wanted beauty brands to know that each person is different and that customised beauty products are what’s really needed. Their prayers have been answered with more and more brands following Rihanna’s footsteps and making customised products that are tailor-made to fit customer needs. You can even take quizzes offered by beauty brands to figure out exactly what kind of beauty product you need. Then the beauty product is customised and shipped to you according to your exact specifications.
While earlier, the beauty industry could very well be called racist at some points, what’s happening now is a slow but sure transformation of the beauty industry. Diversity is now something that beauty brands celebrate and make catchphrases out of, rather than something to be carefully ignored. This is a welcome change that had been much anticipated earlier and more changes are expected in this area in the future.
With the increasing number of social media beauty brands, the competition amongst them is also fierce. The only way to stand out, in the end, becomes the brand’s relationship with the customer. It is more necessary than ever to create loyalty-based bonds with the customers so as to retain them and keep them from moving on to other brands. Schemes like a point-based system is an effective way to retain customers.
Several brands are opting to create online communities that encourage customers to interact with each other and create a feeling of being close-knit. Customers reach a point in this setup where the brand becomes a part of their identity and thus, indispensable. Such customers will prefer to keep on using the same brand and immune to the attraction to newer and trendier brands.
All in all, e-commerce platforms, especially social media, have only been able to let prosper, rather than wash out beauty brands from the main market. Every day, new ideas emerge in this industry alone and trends change at a rapid pace. The beauty industry is ever-changing and what comes next, only time will tell.