The retail industry has seen many ups and downs in the last year, with the rise of e-commerce becoming more prevalent than ever. This has affected brick and mortar stores, as customers have begun to prefer digital shopping over physical. The beauty industry, in particular, has been one factor of retail that has remained strong against the predicted downfall of retail.
We have seen all types of changes in the beauty industry, as big players emerge in the sector. With all of this being said, it leaves me wondering, how exactly is the beauty industry exploding during a retail apocalypse that seems to be having a negative impact on brands worldwide?
Digital Has Benefited The Beauty Industry
My favorite beauty brand, Glossier, is a true millennial success story. It all began with founder Emily Weiss starting a beauty blog rated other products, then created her own product, with a very strong brand message that provoked hundreds of thousands of fans and social media followers, which is still growing today.
Glossier has now been named a cult-beauty brand that is the industry’s biggest disruptor and for good reason. Fans of Glossier flocked to the website before its showrooms existed, to buy products without even being in physical contact with them first. Now, Glossier has multiple showrooms, in New York and the U.K. and has tripled its customer count in the past 12 months and shipping to them all worldwide.
So, why am I telling you this? To prove that e-commerce and digital marketing worked so well for Glossier, that they gained a customer base strictly through online branding and customer targeting. Thus, e-commerce has benefited this company and not just this company alone. Traditional brands like L’oreal have caught onto the fact that digital components can help increase an audience. Digital experiences make things personal for customers, and when it comes to beauty products, customers seek personal experiences.
“It started with the recognition that digital, and especially mobile, has fundamentally changed the way people consume media, develop brand preferences, and choose products.” Think With Google reports.
Influencers Haven’t Hurt Either
Once YouTube became a social media sensation for consumers, brands started to realize that there is a lot of promise when it comes to beauty bloggers who have millions of followers and a large exposure to a unique audience.
“While there’s no single definition of beauty influencer, beauty influe ncer marketing is defined as a social media user with a significant and engaged following endorsing specific makeup and beauty brands through shareable, digital content.” Izea reports.
These bloggers expose products daily, or weekly, depending on their image. Big brands like MAC are now partnered with some of these bloggers, pushing their products to the top of the YouTube chain. Whether they are sharing beauty tutorials or product reviews, beauty influencers can benefit brands in a significant way. The beauty industry and influencer marketing are a perfect match. At any given moment, you can log onto Instagram and view an abundance of beauty brands using big names to reach an audience.
Besides influencers, celebrities have also pushed the beauty industry towards success once certain big players (ever heard of The Kardashians?) started to dabble in their own beauty lines. Using their celebrity influence and fan base, famous celebrities have emerged into the beauty sector. Kyle Cosmetics, Kylie Jenner’s makeup line, is one example of a celebrity that has used influence to create success for a product, or in her case, a variety of products. Kylie Cosmetics is now worth $420 million and is continuing to grow today.
So, there you have it. The beauty industry is exploding, and every time you view a makeup tutorial on Instagram or YouTube, you are contributing to the success. As long as social media is so prevalent, the beauty industry will be just fine.
C-Level experts from across North America’s retail industry are coming together February 15-16, 2018 at The Park Hyatt Aviara in San Diego, CA to anticipate the highly complex digital environment that will develop over the next few years.
Retailers are uniquely positioned to leverage new digital technology such as Artificial Intelligence, Augmented Reality, Virtual Reality, and more to deliver enhanced, personalized customer experiences.
Through a cutting-edge program designed by the industry, for the industry, we will provide a fresh and up-to-date insight to help move your organization to the next level of digital leadership. A series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions will offer industry-specific topics and trends to ensure your company sustains its competitive advantage.
This is not just another “Retail” event. Spaces are reserved for the best in the business. Enquire about attendance here!