The online beauty market has continued to perform well and growth is outstripping the wider beauty and personal care market
The online beauty market has continued to perform well and growth is outstripping the wider beauty and personal care market. In 2019, Mintel estimates that online sales of beauty and grooming products will increase by 11.4% to £1.5 billion, with similarly robust growth forecast in 2020.
The online beauty market however is undoubtedly challenging. Price competition is intense as low prices are a primary reason for buying beauty and grooming products online. Meanwhile, as interest in sustainability is rising, retailers are likely to face more scrutiny in future and pressure will mount on those that do not fulfil online orders in an eco-friendly manner.
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Written by Samantha Dover, a leading analyst in the Retail sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
The online beauty market has benefitted from a desire amongst consumers to experiment with new brands and products. However, competition is intense and the prolific discounting is expected to subdue market growth in future as consumers now expect to buy beauty and grooming products at a discounted rate when shopping online.
Retailers therefore now need to restore their price integrity and give consumers other reasons to buy beauty and grooming products online.
For more information on Mintel's report, see here.