There comes a time in history when grasping the reins of a new “trend” is a must. Imagine being the last person in town to jump on the automobile bandwagon. Where would you tie up your horse? Once the light bulb caught on, how long would you keep carrying your kerosene lamp around the house? These of course are old, yet revolutionary, advancements that have made life much more convenient and spurred on countless other developments. However, in the not-too-distant past, e-commerce was an element that the health and beauty sector tried to keep at bay. Eventually though, it could not be ignored. What was shortly ago seen as an industry that required physical access to smell, sample and touch, e-commerce has become the fastest growing segment of the cosmetics industry.
A study by L2 Think Tank shows that e-commerce sales for beauty products grew by nearly 30% in 2013. This outpaced only a 6% in-store growth. As this new opportunity continues to show great potential, it’s important for health and beauty companies to embrace and implement an e-commerce strategy as a competitive differentiator.