[TREND 8]E-COMMERCE Is Queen in Beauty
This year, the beauty industry is witnessing one of the strongest shifts to e-commerce ever. The transformation began in March 2020 with the onset of the COVID-19 pandemic, causing the omnichannel approach to lose relevance as many brick-and-mortar retailers were forced to shutter. The change to digital will be accelerated as health and safety standards may encourage consumers to permanently use alternate methods to purchase products.
In this new beauty marketplace, a strong e–commerce presence is vital to surviving the pandemic. Today, the e-commerce channel accounts for more than 15% of beauty industry sales, up from almost nothing only a decade ago. Sales growth for 2020 is on track to surge by more than 20%. Virtual consultations, events, and try-ons, as well as online communities, live chatbots, and payment installment programs, are all strategies marketers are using to lure consumers online. Pick-up-and-go and delivery services also saw and will continue to see spikes in usage well into 2021.
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