The health and beauty industry includes a diverse range of products, including makeup, hair care, fragrances, hair color, sunscreen, toothpaste, as well as products for bathing, nail care, and shaving. It is a category that, in the United States alone, generated about 93.7 billion dollars in sales in 2016. Leading the way for that year were vitamins, soap, and cold remedies, followed closely by internal analgesics, weight control, and skin care.
The health and beauty industry also overlaps with other markets like chemical, healthcare, and petroleum. Petroleum is important because personal care product raw materials, like propylene glycol, come from petroleum products. Health and wellness have been projected to be the next trillion dollar industry, thanks to the rise of the minimalist movement and the wellness mindset among consumers, who are prioritizing the attainment and maintenance of well-balanced physical and mental health.
Women’s Markets reports that “we are experiencing a phenomenon where health is creeping into all aspects of consumer life and experience...More consumers are gravitating towards products with embedded health benefits that are actually well designed, desirable, accessible, fun, tasty, interesting, or storied.”
This health and beauty market space is dominated primarily by anti-aging product sales, followed by fitness and mind and body exercise, healthy eating and nutrition, and finally weight loss sales. A growing distaste for store shopping by millennials, coupled by creative marketing strategies embraced by retailers that make online shopping easy, fun, and interesting has generated a vast opportunity for internet retailers and ecommerce entrepreneurs to make some serious money.
As a result, health and beauty brands are getting into the ecommerce sales business and upping their online presence. From using social media platforms to increase consumer interaction to using the best Instagram hashtags for likes, ecommerce businesses know that gaining a following and generating conversation will lead to greater sales and increased revenue. As Forbes has indicated, the health and beauty industry, along with health care, encompasses the final frontier for ecommerce.
One example of a company who has taken a global approach is Pacific Springboard. Brian Magierski, managing partner and co-founder has, with his partners, identified these US-based “healthy lifestyle” concepts and applied them to current Chinese consumers. From health care to fitness to active entertainment and “better for you” foods, Pacific Springboard has been able to secure the best US brands, successfully “springboarding” and scaling these concepts across China.
FastMed Urgent Care, a fast-growing urgent care brand in the US, is one of the many partners secured by Pacific Springboard who will benefit from the expansion into the Chinese market and provide improved alternatives to medically underserved populations and “satisfy a critical need in China’s massive healthcare transformation.”
If you currently have or are planning to start an ecommerce business that seeks to carve out a niche in this growing market, whether you’re keeping it local or expanding globally, you may be wondering what the key essentials to the health and beauty industry are. Here is two-step crash course in the basics of health and beauty ecommerce sales:
Start with education. The wonderful thing about an online forum for selling health and beauty products online is the opportunity to educate your consumers. In a traditional brick and mortar storefront, consumers walk in, browse, choose what they want, and leave. With ecommerce, you can educate your consumers on how products work, provide tutorials that show application processes, and regularly interact with them through live feeds. Unlike “commercials” that are designed simply to sell, these can demonstrate the use and effect of a product, creating interest and repeat sales and improving overall consumer satisfaction with the product. You can also provide links to interesting articles and other content that is fun and interesting for your consumers.
Finish with persuasion. Social media is a forum that can easily be used for persuasion. If your YouTube link or live video feed delivers a beautiful demonstration of makeup application, your customers are going to want to buy everything you used to achieve that result. Additionally, social media can create a community of consumers who come to know one another, generating a unique situation in which your customers are able to share their positive experiences with the product with one another. There is no better marketing technique than positive testimonials delivered by word-of-mouth, and there is no place like social media to provide a forum for that!
Do you know of some health and beauty brands that are doing an excellent job of stepping up their online game? Be sure to list them here and tell us what you like about their online presence.