Unlike some retail segments, the beauty industry is looking good for growth. Worldwide, cosmetics are now worth $532.43 billion and are expected to reach $805.61 billion by 2023. A big chunk of this growth will come from North America, which represents 24% of the global market. 

In the US, sales of makeup alone are increasing 16% each year. Today, 86% of all women buy make-up and 78% buy skincare. No matter if they’re Millennials, Gen Z, or Baby Boomers the amount that each consumer is prepared to spend is staggering. Women, aged 18-78, who regularly buy cosmetics, invest around $3,756 a year – that’s a total of $225,360 in the average lifetime. And men are getting in on it too, spending $2,928 annually on grooming, just 22% behind their female counterparts. 

High demand, combined with healthy profit margins and growth rates that outperform almost all other retail sectors make beauty one of America’s most lucrative and attractive markets. 

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Please let us know the best time for you in the coming weeks to reschedule for a consultation and we’ll set something up on our calendar. If you have any questions, please let us know and we’ll be glad to help.

Private Label Phone Call: https://calendly.com/keith-west/30-minute-privale-label

Custom Manufacturing Phone Call: https://calendly.com/keith-west/30min

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Can you technically sell products online without an established brand? Sure, maybe for a short period of time. But can you build and grow a sustainable, profitable ecommerce business without one? Good luck.

Online is On-Trend

While the majority of shoppers currently buy beauty products in-person at places like Sephora and Target, it’s expected that many of these sales will increasingly shift online. Dominant brands will find themselves facing strong competition from highly targeted, heavily socialized digital-born brands like Glossier, as well from powerful online retailers like Amazon.

And there’s lots to play for. In 2017, Americans spent over $12 billion online on beauty and personal care. What’s truly exciting is how quickly the market is moving from in-store, product-based models to experience-driven sales made on laptops, tablets and mobile devices. Thirty percent of today’s beauty dollars now flow through online channels, up from just 24% a year ago. By 2021, cosmetics and personal care revenue generated through online sales is expected to reach 44%. In this increasingly competitive space, merchants need to do everything they can to stay ahead, capture more sales, and grow their brand.