The beauty industry was one of the consumer categories hit hardest by COVID-19, but experts predict it will bounce back fastest.
Understanding who today’s consumers are and what drives them is crucial. Wellness, self-care, and beauty products positioned as ‘treatments’ have seen sales surge, as consumers spend more time at home. And with the increase in video calls and mask usage, eye makeup and skincare categories have also seen growth during the pandemic.
For many brands, recovering COVID-19 losses has meant adopting digital trends. In an industry traditionally focused on in-store trial before purchase, innovative marketing initiatives have become key sales drivers.
The pandemic sent digital adoption into overdrive. Beauty brands and retailers no longer just provide the traditional ecommerce experience – websites and social media channels have become experiential platforms. Product pages have become the new beauty aisles, with channels of communication being built from every angle.
The beauty industry has embraced Augmented Reality (AR) over the past year. With AR, consumers can try on cosmetics virtually (lipsticks, eyeshadows, lashes, foundation shades etc.) to help them with their purchasing decisions. Brands use AR experiences to boost consumer engagement and loyalty, especially as it eliminates the trial and error of buying cosmetics online.
Many brands also provide 1 to 1 online consultation for tips and guidance, personalised skincare routines or help with finding a gift. They help people feel comfortable making their purchases online and in turn generate huge growth in online sales.
Brands and retailers that were quick to react and focus on digital trends during the pandemic have started to reap the benefits. Many have reported ecommerce sales growth of 10-20% compared to pre-COVID levels, as well as stronger connections with consumers.
With the days of retailer loyalty now in the distant past, consumers switch between online stores to find the lowest price point. For brands to stand out in this increasingly crowded market, they need to build online communities and create multiple customer touchpoints.
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