The beauty sector might be one of the hottest arenas in e-commerce, but there looks set to be boundless new opportunities on the horizon for digital-savvy brands, from social commerce advances to the metaverse.
Beauty brands must start to create camera-first digital strategies because consumer interaction with the tool is evolving fast, particularly amongst Gen Z and Millennial beauty seekers on Snapchat, say executives at Snap Inc.
Cosmetics major Lush will close all global social media accounts across Instagram, Facebook, TikTok and Snapchat this month, stating they will remain closed until the platforms provide a safer environment for users.
Personal care major Unilever has launched a collaboration initiative to partner with forward-thinking beauty startups, scaleups and entrepreneurs specialised in social commerce to drive next-generation in-house innovation across its portfolio of brands.
Deciem-owned indie brand The Ordinary is the most popular beauty brand on TikTok by hashtags and follower count, closely followed by L’Oréal’s derma brand CeraVe; though Unilever’s Dermalogica steals top spot for most videos.
The plethora of influencer-created beauty content online continues to swell worldwide, and brands should monitor it closely as it provides an important feedback loop that can unlock innovation and power business growth, says a specialist.
The unfathomable rise of TikTok can no longer be ignored by beauty brands, as swathes of users engage with the social media platform daily; appreciated for its openness and sense of community, say experts.
L’Oréal has partnered with TikTok on its pilot commerce feature, enabling consumers in the UK to purchase Garnier and NYX Professional Make-Up products directly via the app – a partnership the beauty major plans to expand over time.
This month, the multinational beauty maker’s venture capital fund announced a minority investment in Replika Software, a tool that lets brands create a ‘retail partnership’ with any individual active on social or streaming platforms.
Video-sharing platform TikTok is a promising space for beauty brands – big and small – to build up meaningful communities and consumer buzz in an increasingly saturated market, say the company's brand partnership managers.
The adoption of social commerce is becoming more crucial for beauty brands as consumers are expected become more selective about their purchases amidst the economic fallout from the novel coronavirus (COVID-19) outbreak.