(Not to be confused with Earth, Wind, and Fire’s September.)
We talked about how the beauty category, despite being a stalwart of the CPG industry, is anything but mature, and has some prime opportunities available. And that’s all still true. As is this little tidbit: beauty sales are expected to hit $675 billion by 2020.1http://www.businesswire.com/news/home/20150727005524/en/Research-Markets-Global-Cosmetics-Market-2015-2020-Market
But what is also true is that shopping for beauty products today has changed vastly in the past decade. Online purchases have skyrocketed, with Amazon collecting 21 percent of online beauty sales in 2016.2https://www.digitalcommerce360.com/2017/02/23/amazon-nabs-top-spot-online-cosmetics-sales/ Macy’s and Sephora both obviously have brick-and-mortar stores, but those retailers also clocked in some cool online beauty sales.
Online shopping is clearly where it’s at these days. It may even be so de rigueur as to be almost passé.
But it’s not the final say, especially in beauty.
Beauty is an industry where people like to try things on, especially when you’re talking makeup. Trying to determine whether a lip color will look gorgeous or garish by way of a computer screen isn’t always the easiest thing. And for the contingency of people who have sensitive skin, samples are key; anyone who has ever broken out from a shampoo or a lip balm or a face lotion is loathe to spend money without knowing whether or not they’ll be able to actually use the product.
That all said, take a look at where you’re selling your beauty products. Online has a ton of benefits, yes, but don’t overlook the brick-and-mortar stores—the benefits of those are numerous as well. Sampling alone can drive instant loyalty from new consumers, and when looking for beauty products, makeup especially, having someone on site who can walk a consumer through your products is a welcomed luxury.
And think outside the box—are there retailers that don’t currently sell beauty products but probably should? Example: Home Depot, Lowe’s, or other hardware stores. They might sell lip balms and hand creams, but more and more women are getting into home renovation and home repair. They need plywood and light fixtures and lip gloss and sugar scrubs, and they would very much like to be able to buy them all in one trip.
Just as women are getting into home renos in increasing numbers, men are increasingly conscientious of their skin care. And guess what? Men shop at hardware stores, too! And they like one-stop shopping as well!
So think about it. That’s just one example that comes to my mind, but I’m sure you savvy suppliers can think of others. Think outside the beauty box, and see what kind of beautiful opportunity you can create.