Key players of E commerce cosmetic & Fragrance Market are LOral International, Avon Products, Inc., The Procter & Gamble Company, Unilever PLC, Oriflame Cosmetics S.A., Revlon, Inc, Kao Corporation, The Estee Lauder Companies Inc., Shiseido Company, Limited, Skin Food, Takasago International Corporation, Others.
Rising consciousness regarding quality ingredients & their optimistic effect on the skin is moving customer inclination from traditional cosmetics to premium cosmetics. Inclination for premium cosmetics for issues like age spots, acne, & pigmentation is anticipated to bode well for market development. Also, the request for active ingredients & authenticated efficacy products is improving product sales. The customer preference for imported & branded cosmetics is mainly driven by brand name, product safety, & price. The accessibility of an extensive range of products along with increasing disposable income is expected to drive the market growth during the forecast period.
Rising penetration of social media & the internet acts as a main channel for brand awareness. Demand for customize in cosmetics is a developing trend among customers, supported by the arrival of info available online. For example, For instance, Face Gym, a European company, in 2017 introduced the Make it bar, where customers can visit the studio & make their own face serums, appropriate for their own needs & lifestyle with the help from the experts. Innovation is anticipated to create development opportunities for new competitors. However, the occurrence of counterfeit products is performing as a main hindrance to the development.
E-commerce development in cosmetic & fragrance product across key European markets & the US is between 27 percent & 36 percent according to data from MMR report, representing beauty’s dependence on online. Also, in fragrance for example, online accounted for 100 percent of the development in France, the UK & the US in the last two & a half years.
Rising skincare sales & Ecommerce growth reshape the beauty industry:
In 2019, the global beauty market was valued at $532 Bn, with cosmetic products inclusive of eye, face, nail & related accessories accounting for Bn of sales in the U.S. But, the increase of the international skincare market, joined with the social & economic shifts resulting from corona virus could intensely change the future of the cosmetics industry.
The global beauty industry has expressively helped from developments in digital marketing. Numerous beauty brand dealers organize innovative online campaigns & deeply employ social media advertising strategies to reach customers & involve current consumers. The boom in digital content has allowed beauty brands to step away from the makeup stand & showcase their products in innovative ways. Social media aids beauty brands start stronger connections with new & existing viewers by posting attractive content that brings brand personas to life.
As innovative niche & indie beauty brands arrive the market, YouTube channels continue flooded with beauty lessons & how-to content. User-generated content & influence advertising has assisted brands like Glossier, Fenty Beauty, Kylie Cosmetics & ColourPop compete with legacy brands such as L’Oreal & Estée Lauder. Social platform advancements like Pinterest’s shoppable pins & Instagram’s in-app checkout raised beauty brand advertising & changed the online shopping experience. Numerous brands now trust on social media stations as an extension of their consumer’s purchasing experiences, inspiring seamless transaction experience from like to cart. Make-ups is not the only beauty area undergoing increases from social media. Social media opened up new roads for buying & discussing skincare products, habits & trends.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about Global E commerce cosmetic & Fragrance Market. The report encompasses the market by different segments, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics and future opportunities that might exist in Global E commerce cosmetic & Fragrance Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors has been taken into consideration for enhancing market know-how of our clients and at the same time explain Global E commerce cosmetic & Fragrance Market positioning of competitors.
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