Humans are visual creatures and we are highly influenced by what we see. Isn’t it?
Most of us are obsessed with beautiful things and people. And why not? It makes more sense when you know that the cosmetics industry is over 7,000 years old and present in almost every corner of the globe.
Let us look at a few make-up and beauty industry trends to understand the market well.
- $ 33.33 billion is the expected growth of India’s beauty and personal care market by 2027
- 6.5% CAGR is the anticipated growth of the Indian beauty and personal care segment during 2022-2027
- 122 Mn+ is the estimated number of online beauty shoppers by FY 2025
- 491% is the average growth rate of the D2C personal care brand Mamaearth in the last year
Source: Yourstory, Business Today
Makeup and cosmetics have always been a successful product segment, be it offline or online. With the growing popularity of ecommerce today, this segment shows a massive opportunity of making your brand successful through a multi vendor marketplace website.
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Nykaa was launched in 2012 when the online beauty space was at a nascent stage with only a couple of market players. The company has quickly emerged as one of the largest omnichannel destinations for makeup and beauty products. It offers a comprehensive range of makeup, personal care, skincare, hair care, luxury and wellness products.
The company was founded in 2012 and established itself as one of the largest online retailers serving across the world. It aims to take the shopping experience of customers to the next level with super easy and perfect product categorisations. The brand helps the customers to find the right product for their specific needs while accommodating highly personal preferences.
With a huge success in the ecommerce market, Amazon has rapidly expanded into multiple categories. And considering the success of the industry, the company has also launched their own beauty label and also teamed up with Loreal to launch an artificial intelligence powered technology for cosmetics try-on. It clearly reflects the bright future of the beauty industry and a major change from offline to online channels.
Myntra being the largest online fashion retailer, the company doesn't want to leave any stone unturned for their online success. The beauty and personal care category of Myntra has witnessed a growth of 150% year on year in 2019. And along with the rise in profits, the company has leveraged selling everything under one roof and getting delivered to the doorstep of customers.
Founded in the year 2007, the company has earned a great amount of trust in the market as it is a venture of the established Dabur brand. The company has ventured into makeup and cosmetics with a wide range of product categories including skincare, hair and personal care, fragrances, herbal care, cosmetics, and men’s grooming.
If you already have a beauty store or you are a would-be entrepreneur in the cosmetics industry, you need to be equipped with the best tools and solutions to build your own personal care and beauty marketplace. Here is presenting the must-have features of successful online beauty stores that will set your business on a growth path.
Streamlined product management
Imagine you are looking for a brown mascara on the online beauty shop, you will search for the product in the search box. If you will not find it anywhere in the store, you will instantly get an “out of stock” message. Your next obvious step will be to switch to a different website and start your search again. But what if the marketplace app would have offered you a “notify me when the product is in stock “feature? You would have clicked it.
This scenario clearly indicates the importance of streamlined product management. The product features like advanced search options, wish list, customer order history are some of the must-haves for an ecommerce website. Like, StoreHippo offers an easy to use product management module where you can update product variants, update inventory, manage pricing and product details in a few clicks.
Flexible shopping with multiple payment options
The makeup and beauty sections are famous everywhere and why not? Everyone wants to look beautiful and stay confident. Flexibility and shopping experience has become one of the important priorities for modern consumers. Some of the most popular payment options you must have are net banking, credit/ debit card payments, credit/ debit card payments, credit/ debit card payments, credit/ debit card payments, credit/ debit card payments, Cash on delivery etc.
Mobile commerce is not a temporary wave in the market. It is going to stay in the ecommerce world because it gives utmost convenience to the buyers. If your marketplace app does not work well on mobile, your business can lose oodles of opportunities in no time. Considering the preferences of modern online buyers, StoreHippo offers a seamless mobile shopping experience along with many advanced mobile-specific features to keep you ahead of competition
Easy vendor management
Dealing with a multi vendor marketplace simply means managing a lot of vendors who are selling the products through your platform. And just like your users, vendors also expect a certain level of comfort while doing business. They should have easy access to orders, real-time status of orders, cancelled orders, invoices, returns and refunds, and more. The simple dashboard offered by StoreHippo allows vendors to get a complete overview of business on a single dashboard. Some of the important business insights that can be checked by the admin are sales reports, order summary, revenue details, best selling products and much more. Start onboarding vendors to your makeup and cosmetics store and leave their management on StoreHippo.
Personalized marketing and notifications
While most of the customers prefer to receive personalized offers, messages, and product recommendations from the brands. Like the advanced marketing features of StoreHippo include highly personalized emails, messages, and push notifications. It eventually leads to increased customer conversions and better sales. It also provides options to implement discounts based on vendor, order, product level with the powerful discount engine.
Build your makeup and cosmetics marketplace with StoreHippo today.
Now when you know that the beauty market is growing leaps and bounds. And there is a demand for all types of beauty and personal care products across the world. The rising demand for the products and online purchase has spanned the umbrella of the ecommerce business like never before. And this is the right time you can also get into the online business. Even better is to expand this opportunity by developing a multi vendor marketplace where you can onboard multiple sellers to sell products collectively.
Whether you are a make and cosmetics shop owner or thinking of starting your online beauty store, StoreHippo has you covered. With all the must-have features of an online store, StoreHippo can help you build a successful online beauty marketplace. Don’t take your decision in any hurry. Explore all the features of the ecommerce platform by starting your free online store trial now.
Start your free online trial store, explore the features of the platform,to begin your online journey.
You can build an online makeup and beauty multi vendor marketplace with StoreHippo. The powerful features that StoreHippo offers like complete vendor management solutions, adaptive payments, in-built marketing tools etc helps you seamlessly run and manage a highly scalable marketplace.
Yes. You can send personalized notifications to your customers on your makeup multi vendor marketplace. You can connect with your customers and power your communication with personalized unified notification through SMS, email, push and web notifications.
No. StoreHippo comes with comprehensive built-in modules for all your business needs. With StoreHippo’s in-built solutions like powerful discount engine, marketing tools, end-to-end vendor management solutions, etc you do not need to look outside for any additional plugins for your multi vendor marketplace.
To tap into the impulsive buying nature of your makeup customers, all you need to do is create your Andriod and iOS mobile apps right from the admin dashboard of StoreHippo. The mobile-first architecture of StoreHippo is designed to engage, convert and retain buyers better on mobile devices. Also, the stores powerd by StoreHippo are Progressive Web Apps (PWA), that look, feel and work like mobile apps even on entry level devices.
Surprisingly, yes. You can recover your lost sales like abandoned cart with StoreHippo. With automatic abandoned cart follow ups, you can re-target your customers with personalized notifications. You can offer them discounts or duplicate the abandoned cart order if the customers face any difficulty in ordering.
With StoreHippo’s 30+ pre integrated shipping providers and automated shipping solutions, you can ensure timely deliveries of your makeup products. StoreHippo also offers an inbuilt delivery boy management system to help you manage your own fleet of delivery boys. You can schedule pick-ups, track real-time order delivery updates etc with the automated shipping solutions from StoreHippo.
Yes, it is. You can seamlessly build a global makeup marketplace with the go-global features from StoreHippo. We offer multiple domestic and international payment gateways along with support for multiple currencies from across the globe on your multi vendor marketplace. You can also connect better with your audience and get better conversions with StoreHippo’s multi lingual feature. It also becomes easy to calculate location-based taxes and generate multi-currency invoices for your customers and sellers with the powerful tax engine by StoreHippo.
Yes, your customers can order multiple products from multiple vendors in a single order. The order is automatically created into multiple orders and assigned to its respective vendors. With adaptive payment solutions from StoreHippo, the order payment gets divided into multiple vebdors and the admins.
You can seamlessly manage a large number of vendors on your multi vendor marketplace with StoreHippo’s end-to-end vendor management solutions. With a quick and easy vendor registration process, you can onboard multiple vendors in no time. StoreHippo creates a unique vendor account for each vendor by filling details in a simple registration form. These vendor accounts give a clear understanding of inventory and order status to the admin as well as the vendor themselves.
You can effortlessly manage huge makeup products inventory on your multi vendor marketplace with the help of product management solutions from StoreHippo. It enables you to manage your products in the backend and frontend with time saving and simple features. You can add, delete, import, export, seach, publish, and unpublish products in a few clicks.