In 2019, the cosmetics industry was worth $93.5 billion in the US market alone.
That’s a lot of money.
I love cosmetics as both a tool of artistic expression, and for the way it can make people feel about themselves. I know most cosmetic retailers like the back of my hand, and would consider myself a seasoned beauty consumer. So when I was asked to perform a competitive analysis, my “client” was an obvious choice – Beautylish.
Duration
1 Week
Tools
Sketch
Synthesis
Social media is king.
The largest beauty retailers have the greatest social media followings. For better or worse, social media drives an incredible amount of purchasing traffic now, and retailers must be active and engaged on instagram in particular.
New, new, new
Beauty product development has sped up considerably in the last decade. Customers want to see what’s new, and that you carry the hottest products.
Representation and diversity
Gone are the days when foundation came in 5 shades. Customers are increasingly demanding that both models and products come in every shade imaginable.
Shipping cost and speed
Now (written in 2020) more than ever, customers rely on online shopping to get their products. Fast and free shipping is the standard.
