The beauty industry is growing at an exponential rate. In 2020, it was valued at $483B, and this jumped to a whopping $511B just one year later. Now, the industry is predicted to exceed $716B by 2025. Driving this is the expansion of cosmetics marketing through digital channels.
I can attest to this growth. Back in 2014, I opened one of the very first online professional haircare stores in South Africa. The store, 'Hair Today Hair Tomorrow', was introduced to the market with the aim of providing quality, professional-grade products to the growing online shopping community. Fast-forward to 2022 where today, under the My Beauty Luv brand, I produce and sell a range of professional-grade beauty supplements that target the most sought-after areas of wellness: anti-ageing, longevity, and vitality.
I firmly believe that if the pandemic has taught us anything it’s that businesses, including those in the beauty industry, need to be online to survive. Far too many businesses became casualties of the crisis. While some spheres of the beauty world do need brick and mortar salons, stores and clinics to operate, they also need to have an online offering to be able to compete in the ‘new normal’.
Below is some advice for those wanting to enter the world of e-commerce:
- Find a niche. In an increasingly flooded market, you will need to figure out what sets your brand apart from your competitors. You will need to consider which beauty services or products you will provide and define your target market.
- Build the brand. With the above in mind, the next step is to think about how the packaging, branding, voice, and website design echo your brand and create an experience for your customers.
- Set up the site. There is a myriad of e-commerce platforms and tools available. Choose the one that best suits your needs and budget. Once this is done, you will need to pay attention to your product descriptions. Not only do they enable customers to make informed purchases, they also help with search engine optimisation (SEO) and driving traffic to your site.
- Start marketing. Once your online presence has been established, how will people know about it if you don’t do some marketing? There are several tactics to choose from including public relations, Google Ads, partnering with an influencer and social media marketing. Try a few options and see which one works best for you and your brand.