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Post-COVID-19: How Cosmetics E-commerce Survived
The worldwide pandemic has affected everyone and everything. Businesses, both big and small, have experienced losses. However, it has been a surprise to many that the beauty industry seems to be thriving and progressing despite the pandemic.
Even with the crisis brought about by the pandemic, the cosmetics industry has survived with great reliance on e-commerce. Shifting their market strategies and increasing brand recognition has significantly abetted the persistence of the industry. The global cosmetics industry encompasses millions of jobs, both direct and indirect; this makes billions in revenue due to the steady stream of loyal consumers and customers.
Let’s take a look at the factors that aided in the cosmetics industry’s survival through the Covid-19 crisis and how it will endure after it.
How Cosmetics E-commerce Survived
- Even with the closure of many brick and mortar stores, the online sales are not showing signs of offsetting. In fact, online sales are steadily progressing through e-commerce. Studies and trends show up to 30% growth in online sales and revenue. Although retail shops have seen sales plummet, brands are using e-commerce as a fallback for their losses. With most physical stores closing due to the pandemic, brands are boosting their online marketing to make up for physical losses.
- Even with the re-opening of some physical stores, their revenue growth will most likely be protracted, and it will take quite some time for these stores to bounce back. Reports have shown that mall-based retailers are suffering the most even after reopening. Because of this, brands are relying on promotions and discounts through their online counterparts to clear their inventory and promote end-of-season sales. By offering promotions and discounts, brands maintain and regain their customers and drive traffic to their sites.
- Although some products have seen a decrease in sales due to social distancing, face masks wearing, and quarantine, other products make up for it. For instance, what is lost in fragrance and lipstick sales can be earned from facial care and eye makeup sales. Especially now, with the advent of skin concerns such as mask-ne; acne brought on by wearing face masks for a long period of time, facial and skin-care products are getting the hype. The same goes for hair care and bath and body essentials. With the heightened awareness for personal hygiene and sanitation, self-care products are seeing revenue boosts.
- Another e-commerce trend that has greatly helped the cosmetics industry through this pandemic is mass marketing or multi-brand platforms online. These sites allow various brands and products to be marketed on a single platform. This translates well with consumers as they always want variety and choices. An example of this platform is Asian Beauty Wholesale. You will see amazing products from various brands that promote self-care and offer an astounding cosmetics line up on this site. Check it out for yourself – click here. These shoppable digital platforms have multiplied through the crisis.
- The pandemic has also impaired many service providers such as salons and spas. With this comes the rise of DIY or do-it-yourself self-care products. People are now foregoing services provided by salons and spas and are opting to do it themselves in their own homes. This is the best way to stay safe and healthy in light of the virus. Aside from that, these DIY products offer affordability and cutting back on expenses. These products are getting much hype online through tutorials, blogs, or vlogs done by influencers and celebrities. Online engagement is always massive through these channels. Through e-commerce, DIY products are placed in the limelight as the best option for cosmetic care in the pandemic.
- Social media marketing is also a key contributor when it comes to cosmetics e-commerce. With the influx of social media influencers and mini-celebrities, many brands have taken their products to social media. This is a great way to gain brand recognition to a majority of the masses. This is a proactive approach to remaining on top even with the pandemic still looming. Social media is probably the cheapest marketing tool online right now. It’s basically free if you choose not to boost product posts and page engagement. With many people choosing to stay home, social media is their outlet, and this is the best way to know what’s happening and what’s hot.
There have been many more ways and strategies that have helped the cosmetics industry thrive through the Covid-19 Pandemic. It is agreeable to all that 2020 threw us all in a loop, and we may have a hard time recovering. The cosmetics industry’s best thing for their revenue was to invest and expand in their online presence and become active in e-commerce. This foundation has allowed this industry to remain at the forefront through the pandemic.
Times are challenging and tough. But with innovation and strategic-thinking, any industry will surely overcome this pandemic.