How successful is the online beauty business industry?
Well, from the information we have gathered online, we would have to say very successful. If you have beauty products to sell or specific beauty services to offer, then we would tell you to go for it! Advertise your business on our Sheffield classifieds site, because chances are, you might become part of a very booming industry.
Here are some of the facts you need to know about the online beauty business industry.
Earlier this year, it was reported by Retail Technology Review that the beauty industry generated £2.6 billion in 2019, with skincare products and fragrances making up a large part of these sales. This is a significant increase over 2018 figures, so it's clear that there is growth in the market. If you're in the business of beauty products, this is something you should capitalise on.
While the above figure is based on UK findings, there is also evidence of a 'beauty boom' in the US markets. Online sales for beauty companies are growing at a much faster rate than other internet industries according to an article at Toptal.com, and they attribute this to a 'generational trend of attention to physical wellbeing.' People want to look good because it makes them feel good, so be of benefit to the people in your community while benefiting your pockets from the sales that your products and services might secure.
Businesses can always look at what is trending when trying to reach new customers. And where the beauty industry is concerned, there are several key trends that are being factored into success.
According to US site Yieldify, one of these trends is the increasing use of social media within the beauty industry. According to their findings, new brands are finding it easier to take on established industry players because they are able to promote their businesses on social platforms, the most prominent channel being Instagram. By building followers online, they can quickly grow their businesses, and this is partly thanks to social media influencers and user-generated content. So, no longer do you need to fear the big gals in business, as you might see the success that others have experienced because of social media.
Other trends attributed to success, according to Yieldify, is the use of loyalty schemes and subscription-based services. French retailer Sephora has seen an increase in mobile sales, and this can be linked to their points-based system which rewards their valued customers. And according to the article at Yieldify, subscription service Birchbox has also seen sizeable growth thanks to consumer appetite for a regular beauty fix. Could you offer the same in your business? You might experience a boost in your sales if you follow the examples of these industry players.
Businesses, both large and small, are finding success in the beauty industry, so you should sit up and take up notice. If you make your own beauty products, you should take advantage of the eCommerce growth highlighted at Retail Times, and advertise your products on our classifieds service. And if you provide a specific beauty service, in whatever capacity you might want to consider, with the rise of people wanting to improve their looks, you might be the one to help them achieve their beauty goals.
So, advertise your skills and products on our site, and join the beauty revolution that has propelled many businesses towards success!