There has never been a better time to start a makeup business online. For a while now, the cosmetics industry has been on an upward trend, and it looks like it will continue to climb over the next few years. It is expected to grow 6.4% annually from this year until 2025, making it all the more enticing to get into this field.
If the trends are not enough to convince you, let's not forget about the pandemic, too. The virus has forced us to stay home and do most of our shopping online. Even those who weren't keen on digital shopping are now giving it a go. The shift to eCommerce has accelerated due to the pandemic, and it shows. E-commerce sales in the US increased by more than 30% between the first two quarters of 2020. With the holidays coming up, we can expect an even greater surge in online spending.
So if you're a makeup maven who spends hours watching YouTube makeup tutorials or simply someone who wants to try their hand in the business, now's the best time to do so. Here are a few tips to get you started.
Know Your Niche
You don't have to go up against the heavyweights of the makeup industry right away. If you find your target audience and position your brand well, you can have a thriving makeup business in the digital space. The secret is knowing your market and seeing what products they will be interested in.
Are you going for moms who appreciate multi-use makeup? Do you want to reach professional makeup artists who spend substantially on the tools of their trade? What about millennials who are on a tight budget and are looking for quality drugstore makeup finds? Knowing what interests your target market and keeping this in mind as you work on your branding will help you a lot. Determining this right away will also help you price your products. Makeup artists may shell out more compared to teens. In the same vein, budget-conscious moms would not likely fork over hundreds of dollars over makeup.
Ask yourself what's also in demand now. Natural beauty products or skincare products free from harmful ingredients are gaining more popularity among the health-conscious. The same goes for cruelty-free makeup. These products contain ingredients not tested on animals, which animal lovers are likely to purchase and endorse. Find out more about these critical things to get your positioning down pat.
Set Up Your Makeup Store
Now, it's time to get to work on your digital shop. The good thing about the digital age is that you have a host of platforms to choose from. Whether you plan to use Shopify, Woocommerce, or Wix, it's easy to create your online makeup store. The best part is you don't have to be a tech genius to figure out how to set it up.
But before you decide what platform you'll use, do your research. Shopify and Wix both let you create your own eCommerce website. On the other hand, Woocommerce is a plug-in that allows you to make an online store in your WordPress account.
These are just some examples. When you do a quick search, you'll see various eCommerce platforms you can choose from. Check out different reviews to see the best fit for you. All these brands have their respective pros and cons, and it's up to you to choose which one is the best fit for your brand.
Stock Up Your Inventory
Here's another gift of the digital age. You don't have to literally "stock up your inventory" to have an online store. Dropshipping is a business model that allows you to sell products without doing inventory or shipping. When an order is placed, the products from your supplier are shipped directly to the customer. Simply put, you're selling the supplier's items on your website, but the supplier keeps the stock and does the shipping.
In traditional eCommerce, you would do all these yourself. The beauty of dropshipping is you don't have to worry about storing products and even shipping them. This way, you can focus on your marketing so you can start getting profits. It's a quick, simple, and low-risk way to get into the business.
It's easy to connect your online store with a dropshipping platform like Spocket. In a few simple steps, you can start choosing what items — in this case, makeup — you want to sell, click 'Add to Import,' customize, and you'll be all set. With the dropshipping model, you don't have to deal with maintaining supplier relationships and keeping stock.
Spocket is a good place to find quality makeup for your brand because they come from carefully chosen suppliers from the US and Europe. This also allows for faster shipping times so you can get great feedback from your clients.
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