How to sell beauty products online in India: How to get a foot in the door
The beauty market in India has become increasingly competitive, and it is becoming increasingly difficult for brands to stay in business.
But there is one industry that has been in the limelight and has remained largely untouched for so long.
Read More This industry is the online beauty market, which is now worth about $1.7 trillion.
India is India, after all, and India is also an attractive market for businesses in the digital space.
The beauty industry in India is worth more than $1 trillion, according to a study published in the Economic and Political Weekly (EPSW), which analysed data from the Ministry of Commerce, Industry and Entrepreneurship (MoCEI).
This market, known as beauty online, is the largest in the world and has grown at a rate of around 35 percent per year since 2010, according TOI.
However, its growth has been slow, with the average annual growth rate of beauty online being only 7 percent.
“The beauty online industry is growing at a slower rate than the rest of the market, despite the rapid expansion of the online cosmetics industry in the last few years,” said the report.
While there is still room for growth, the overall industry is already facing challenges in terms of market penetration, according the report, and this is the first time that the study has looked at the entire beauty online market.
“Although there is a lot of room for improvement in the industry, there are a few key challenges that are holding back the growth of the beauty online marketplace,” said its co-author, Moti Jain, an analyst at the research firm IDG.
“These include the fact that many Indian beauty retailers do not accept payment methods and offer products without offering discounts.”
India’s beauty industry has seen a rapid growth in the past few years, with beauty products being marketed through online platforms like Facebook, Instagram, and Paytm.
But the market is still relatively new and has not been able to capture the attention of the Indian consumer in a timely manner, according Toi.
“The online beauty marketplace has the potential to grow quickly, but the current trend of expanding beauty online through social media platforms is not helping it,” he said.
There is a need to get better at marketing to consumers, which means more emphasis on targeting consumers in the offline spaces and in offline spaces.
Despite the slow growth, there has been an increase in the number of beauty brands in the online space, and beauty brands are not shy about offering products in their online platforms.
In 2016, beauty brands like Estee Lauder, Estee, Make Up For Ever, MAC Cosmetics, Revlon, and Lancome had more than 15 million Instagram followers, while in 2017 they had over 15 million followers.
According to the EPSW report, beauty beauty products account for around one third of the cosmetics retail market, and have increased in value by more than 20 percent per annum.
Beauty products have been the most valuable part of the overall beauty market.
In the beauty market today, there is an expectation that beauty brands will be selling their products online as the industry has matured and more brands are looking to do so, according Jain.
“This has led to a significant growth in sales and profits, and has helped the beauty business as a whole to grow at an average rate of 10 percent per season.
However, this growth rate has not translated into a significant amount of growth in terms on revenue,” he added.”
As a result, beauty products are increasingly difficult to reach in the marketplace.
The online beauty markets in India and abroad have become very competitive, with a focus on digital marketing.”
The e-commerce market is another major driver for the beauty industry.
The industry is expected to grow by over 8 percent in 2018, with online retailers like Walmart, HomeGoods, and Amazon among the largest players in the market.