SMALL BUSINESS GROWTH | 2 minute read
The beauty and cosmetics industry is one of the oldest in the world. But the market is starting to change dramatically—both in the way products are distributed, and how they are sold. With the rise of digital-born, single-brand beauty and cosmetics companies, it’s becoming clear that the traditional way of doing business is beginning to face serious disruption.
The beauty and cosmetics industry is one of the oldest in the world. And the way retailers distribute their products and the way consumers purchase them has been largely unchallenged for many decades, resulting in massive market consolidation that has left a handful of big players to dominate the space.
But the beauty and cosmetics market is starting to change dramatically—both in the way products are distributed, and how they are sold.
With the rise of digital-born, single-brand beauty and cosmetics companies, it’s becoming clear that the traditional way of doing business is beginning to face serious disruption. According to a 2017 Deloitte study, older sales channels, such as department stores, are being challenged by online sales and specialty stores. The study also discovered that consumers aren’t as interested in the B2C mass-selling tactics that worked just a few years ago.
These shifting behaviors might seem alarming, but they actually present an exciting opportunity. New, widely available commerce technologies are enabling brands to directly reach their customers—be they traditional consumers or B2B buyers—effectively bypassing traditional channels. Now, business owners and brands can easily enter new markets and scale in ways that simply weren’t possible before.
What you’ll find in this eBook:
Download our latest eBook: Driving digital transformation in the beauty and cosmetics industry to understand what this means for your business and how to fearlessly transform your business.
