Global E commerce cosmetic & Fragrance Market size was valued US$ XX Mn in 2019 and the total revenue is expected to grow at 9.72 % from 2020 to 2027, reaching US$ XX Mn.
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Global E commerce cosmetic & Fragrance Market Overview:
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 are 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 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 to 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 to flood with beauty lessons. 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.
COVID-19 Accelerates Growth of Online Beauty Sales & Ecommerce:
In-store sales ruled supreme for years, representing 81 percent market share in the beauty industry with customer beauty spending mainly influenced by special offers, exclusive products & rewards. In the last couple of years, reduced offers & loyalty plans drew consumers away from drugstores, pharmacies & department stores, transitioning more make-ups purchasers to purchase straight from brand websites.
Currently, with in-store shopping almost impossible, Corona pandemic seems to be accelerating an increase in beauty ecommerce. Online sales of self-care products were strong in Q1 2020, up 24 percent from 2019, according to MMR Report, with double-digit surges for skincare, fragrance & hair products. L’Oreal, the prominent international beauty company, reported a rise of 52 percent in ecommerce sales in its first quarter financial results. L’Oreal attributes the increase in its ecommerce sales to a mixture of circumstances nearby COVID-19 and the brand’s digital media & content expertise. Paying a people-based advertising approach prior to COVID-19 assisted L’Oreal sustain its ecommerce business. At the end of 2018, L’Oreal committed to leveraging its strong consumer data to generate more targeted advertising & rebrand itself as a beauty tech company. The cosmetic industry is on the tip of a revolution. The social shifts of COVID-19 improved problems & weaknesses that were already predominant in sales trends & moving customer values. A new reliance on statistics could become the newest trend in cosmetic marketing.
Global E commerce cosmetic & Fragrance Market Competitive Landscape:
Global E commerce cosmetic & Fragrance Market1
The objective of the report is to present a comprehensive analysis of the Global E commerce cosmetic & Fragrance Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global E commerce cosmetic & Fragrance Market dynamics, structure by analyzing the market segments and project the Global E commerce cosmetic & Fragrance Market size. Clear representation of competitive analysis of key players by Category, price, financial position, Category portfolio, growth strategies, and regional presence in the Global E commerce cosmetic & Fragrance Market make the report investor’s guide.
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Global E commerce cosmetic & Fragrance Market, By Product
• Hair Care
• Skin Care
• Make-Up Products
Global E commerce cosmetic & Fragrance Market, By Category
Global E commerce cosmetic & Fragrance Market, By End-User
Global E commerce cosmetic & Fragrance Market, by Region
• North America
• MEA & Africa
• Latin America
Global E commerce cosmetic & Fragrance Market Key Players
• 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
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