One of the consequences of the pandemic has been an acceleration in the digitization of companies and their jump to online business, in the case of those that have not yet sold or offered their services through this channel.
In a market in which as a consumer we find thousands of options, online stores become one more product that must be made to stand out from the competition. To achieve this, professionals in the sector have to do analytical work and at the same time be up to date with all current trends.
In this article we are going to focus on the 3 key questions that will be part of your day to day life if you manage an ecommerce in the beauty sector.
What three questions should you always keep in mind when managing an ecommerce?
1. How can I improve processes? Both internal management processes of the platform itself, and purchase processes aimed at improving the user experience. The objective is to find those processes that facilitate and simplify the tasks.
Related to this point we can see some improvements and trends that are already applied in most ecommerce:
- Chatbots: they offer 24-hour customer service to solve all the doubts that the consumer has. These robots are becoming more sophisticated and their responses are supported by artificial intelligence.
- Quick purchase: the purchase process is done in fewer and fewer steps. The new payment methods such as apple pay, google pay, amazon pay or bizum help consumers not have to let go of the phone in their hand to look for their card, thus speeding up the process even more.
- Deferred payment in the same payment gateway: related to the payment method, installment payment or “buy now, pay later” is becoming popular among e-commerce and offers the customer to buy the product with payment facilities that they can choose without do big business.
- Voice search: can you imagine asking Google or Alexa how much your favorite perfume is worth? You can do it and although it is not a very popular practice, voice commerce technology is starting to grow.
2. What does the consumer ask for? In order to answer this question, we must first ask ourselves who the consumer of our product is: Has it changed? Has it grown? Can I approach a new segment that until now I was not taking into account? Is there a new consumer to explore and does my range of products meet their needs?
A new wave of cosmetic brands is leading and innovating for the tween segment (tweens between 11 and 15 years old); seeking to respond to their needs. Alleviating the tensions typical of this vital stage, feeding curiosity and celebrating the adventure inherent in the process of finding oneself and defining oneself.
In the beauty sector we find ourselves with a younger consumer who is concerned about their appearance, partly as a consequence of the impacts they receive daily through social networks.
They tell us about this segment in depth from Lantern (link to: https://www.lantern.es in their article “Beauty and the tween segment. Beauty and wellness brands find new ways to approach the preteen segment”. Link to : https://www.lantern.es/blog/la-belleza-y-el-segmento-tween
In it, they analyze how beauty and wellness brands find new ways to approach the adolescent segment.
3. What does the competition do? You must never lose sight of what the competition is doing in terms of innovation, image, communication, sales channels and pricing strategy. Precisely, the last point is one of the most critical in the online environment since the price war becomes more visible.
What should you take into account when defining a pricing strategy, if you work in the Beauty and Personal Care sector?
In order to determine the prices of your products, it is necessary to consider several factors, such as customers, competition, changes that may occur in the industry or the product development process. Thanks to tools such as Netrivals online competitor monitoring (link to: https://www.netrivals.com), it is possible to access data in real time that allows you to adapt your pricing strategy to the latest changes in the market. Having this information is vital to generate more sales and prevent your potential customers from going to buy elsewhere.
When choosing a strategy to select the price of your products, there are multiple options, but which one is the most suitable for your business?
Beauty Cluster and Netrivals have joined forces to create an ebook (link to https://www.netrivals.com/es/recursos/ebooks/la-realidad-del-sector-de-belleza-y-trabajo-personal-online- en-espana/?utm_source=Beauty_Cluster&utm_medium=CTA_Blog&utm_campaign=Ebook_Sector_Beauty&utm_id=Ebook_Sector_Beauty) that will tell you what is the pricing strategy followed by the main brands in the sector, which categories have the best performance, who are the main online distributors and how to generate more conversions in your e-commerce.
If you are an ecommerce professional in the beauty sector, don’t miss the next edition of the Digital Beauty Awards 2022 in which we will discover which are the best ecommerce and new beauty ecommerce of 2022.
In addition, in this edition of the DBA, the first Digital Beauty Summit will also be held. The Digital Beauty Summit is the first forum for knowledge, experiences and exclusive innovation on e-commerce and digital transformation in the Spanish beauty industry. Sign up here. Link to https://www.eventbrite.es/e/entradas-digital-beauty-summit-2022-barcelona-358659890387
