Over the last few decades, the world has seen a ton of events that have likely changed the course of humanity forever. But perhaps the rise of the internet has had the most impact of them all.
As a matter of fact, apart from the universe, the internet is one of the fastest expanding things known to man; with its total users passing the billion mark only 15 years after its inception. With all this influence, it’s bound to have a great effect on many, if not all industries. One facet of the internet that has had a considerable impact on innumerable sectors is e-commerce.
Luxury beauty brands such as Ethni Beauty Market were thought to always exist as physical stores. However, the online involvement of the brand has caused it and the industry at large, to register an eight percent annual growth rate for the past few years. Although Ethni is a frontrunner in the industry, there’s no denying how much the online space has influenced its popularity. You can get more details about the company and its amazing range of products on their main website.
So just how much has the internet contributed to the current state of the beauty and cosmetic industry? Here are some of the major ways in which e-commerce has disrupted the French beauty market.
Fall of brick and mortar stores
If you told someone ten years ago that beauty products and high fashion would be sold online, they’d probably laugh at you. Today, beauty products, skincare products, fashion, and apparel are some of the most purchased products online. In just a few years, online stores have surpassed traditional physical stores in popularity and usage.
Consumers argue that purchasing items online is a lot easier and convenient than going to the physical addresses of their favorite beauty retailers. Companies such as Ethni Beauty Market and Sephora have benefited immensely from investing in online platforms. In addition, renowned French cosmetic retailers such as Biotherm have registered better sales on their online stores than on their physical ones and have shifted their expansive projects to online platforms; a move that has seen the brand reduce the number of its physical stores.
Still, there are those who’ve remained steadfast on shopping in stores, claiming that they want to have the full retail experience; since with physical stores, you’re able to actually view, touch, feel, smell, and even sample products.
The emergence of new players
The onset of the online sphere saw the rise of new companies that operate solely via the internet. Given how powerful the Web can be, brands that are new to the beauty industry tend to leverage it as much as possible. This is in a bid to gain as much popularity as possible in the otherwise saturated and competitive world of beauty and skincare products.
Moreover, since social media marketing is also on the rise, integrating it with ecommerce has made brands report better sales. Companies link ads to their online shops making access to marketed products quite seamless; thus, easing the whole retail experience.
It’s a pity to say that some companies have failed to get with the times and as a result, they’ve proceeded to downscale greatly or go out of business completely. Consequently, there’s really no escaping the tight grasp the internet has on modern retail. Here are some of the factors that affect e-commerce which might help you better position your business in the online scene.
Rewarding loyal customers is one of the best ways to attract and retain customers. A study shows that it takes up to seven new customers to generate the same amount of revenue a single loyal customer does. Therefore, rewarding consumers who constantly make purchases is sure to boost your online sales. In addition, most people love a good bargain, thus giving them a discount after a certain amount of purchases or value is a surefire way of piquing their purchasing interests.
Easy shipping options
One thing that has a great influence on the online marketplace is shipping. The costs and timelines involved in transporting goods to consumers can either make or break your sales. The urgency to do things quickly has been engraved in millennials and customers generally want to get their items delivered as soon as possible, while spending as little as possible.
E-commerce has become a principal aspect of business these days, thus optimizing your operations to cater for it will give you a great advantage over those who don’t.