Online sales in beauty/cosmetic products account for ~2.5% share of the overall market- with an equal share of horizontals and verticals
Verticals have been able to do well in makeup/cosmetics categories, owing to a combination of exclusive selection and engaging content, while horizontals are stronger in personal care space.
Beauty is still underpenetrated online vs other categories in fashion and vs global benchmarks – representing a large growth opportunity
Beauty as a category has lagged others owing to limited selection, supply chain hurdles and risk of fake/fraud products (authenticity issues). However, the category has a large headroom for growth when compared to other fashion segments as well as to beauty penetration in other markets.
We expect the online beauty market to reach USD ~1.5 Bn mark by 2020, and reach ~USD 3.3 Bn by 2022
Growing demand for exclusive beauty products coupled with attractive offers, greater product authenticity and supply chain reliability should drive rapid growth in online beauty over next few years.
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This article is posted by Faizan who is the Founder and Chief Editor of TechCarving. He is a Professional Blogger and Entrepreneur.
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