Best E-commerce Practices to Sell Health & Beauty on B2C Marketplaces
March 17, 2021
Health and beauty will always be an evolving concept for businesses, more likely to be non-exhaustive! These industries are fast-growing and dynamically changing, introducing the latest for customer satisfaction. The beauty and health industries are the largest the most profit-making industries in the world. Health and beauty companies are stepping up their online selling game to stand out among the competition.
Global Beauty Industry Statistics for 2021
- The global cosmetics industry should be worth 438.38 billion by 2026.
- According to the estimations, the global beauty market will have a decline of 20%–30% due to the pandemic.
- Women in the US spend around $3,756 on cosmetics annually.
- 17% of women stopped wearing makeup completely on account of the coronavirus.
- 30% of the beauty industry market was closed due to the global pandemic
- Skin care products have seen a growth in sales by a whopping 606.4% for hand masks.
- Beauty therapy will experience the highest growth of 20% by 2024 in Australia.
- 48% of Millennials say they would purchase products with CBD oil for skin care.
- 82% of women believe that social media drives trends.
- $15 billion will be spent on global influencer marketing by 2022.
Beauty And Personal Care Products Market Report Scope
|Market size value in 2020||USD 535.7 billion|
|Revenue forecast in 2025||USD 716.6 billion|
|Growth Rate||CAGR of 5.9% from 2018 to 2025|
|Quantitative units||Revenue in USD billion and CAGR from 2018 to 2025|
|Regional scope||North America; Europe; Asia Pacific; South America; Middle East & Africa|
|Country scope||U.S.; Canada; Mexico; U.K.; Germany; France; Italy; Spain; China; Japan; India; Brazil; Colombia; South Africa; Saudi Arabia|
|Key companies in the market||Avon Products, Inc.; Beiersdorf AG; Coty Inc.; Kao Corporation; L’occitane International S.A.; L’Oréal Group; Procter & Gamble; Mary Kay Inc.|
Global Health Industry Statistics for 2021
- Healthcare takes more than 10% of the GDP of most developed countries.
- The global health industry was worth $8.45 trillion in 2018.
- Global healthcare spending could reach over $10 trillion by 2022.
- The US has the greatest healthcare spending, sitting at $10,224 per capita.
- The US spends twice what other countries do on healthcare.
- There are 784,626 companies in the US healthcare sector.
- McKesson is the biggest US healthcare company with annual revenue of $208.3 billion.
- The internet of things (IoT) can lower the costs of operational and clinical inefficiencies by $100 billion per year.
- 64% of physicians believe the IoT can help reduce the burden on nurses and doctors.
- 28% of China’s population uses connected health devices, the highest in the world.
List of Top Online Marketplaces for Beauty & Healthcare Products
Amazon is one of the largest e-commerce marketplaces, with millions of sellers and buyers. More than a retailer, Amazon is packed with beauty and skincare eBooks and products with product recommendations and tried and tested reviews. As beauty and health is a restricted category on Amazon, it filters out anyone selling the questionable beauty products. And what you get is the reliable and authentic products and sometimes at the discounted prices. Amazon can be your choice for everything from fragrance and skincare to hair care purchase, but it comes with its own pros and cons. Amazon is the second largest in India. Amazon India’s unit market share surged to an estimated 21-24% from 14% in the recent years.
Whether you are looking for a skincare product or a hair styling tool, Walmart is an exclusive online marketplace that will never disappoint you. This online platform offers a vast range of reliable skincare and beauty products at reasonable prices. You can have an inside look at their best-selling beauty items before making any purchase. From a pharmacy sunscreen to pretty blush, best shaving kit for men to mustache gel oil, you can find ample products for self-care.
With the rapid growth of the e-commerce industry, online buying has become one of the most trending and popular ways of shopping. Like all the retailers mentioned above, AliExpress also has its major share in online business! Millions of sellers sell stuff online to more than 200 countries. It is a Chinese based online selling brand owned by Alibaba. AliExpress has a large collection of grooming products not only for women but also for men and children. It is known for the most affordable items; whether you’re looking for beauty and skincare products, you probably would not get the items at such cheap prices at your local market. Shopping at AliExpress also has its pros and cons. But still, you can get the best items by reading other shoppers’ reviews of the brand and products. The reputable cosmetic companies of China are also listed on AliExpress so you can confidently buy any skincare products like foundations, lipsticks, makeup brushes, and much more.
There is another go-to site platform that is equally popular for higher-end beauty products – eBay. eBay is one of the best places to sell stuff online. A lot of prestigious beauty and skincare brands are available on e-Bay. You should make a wish-list before start scrolling the beauty products here. From a basic moisturizing lotion, high glam lip color, to highly fragranced scent, you can find everything of good quality just a click away. And of course, you can make your decision by reading the product reviews. eBay also offers discounts, free samples, and the return options to its eBay Plus members. eBay India, one of the earliest online marketplaces in the country.
Flipkart is the India’s largest online marketplace by shipments. Market leader Flipkart has 37% share of the entire industry in India. Flipkart, has revamped the experience for consumers seeking to buy beauty care products on its platform ahead of the upcoming festive season. A release from Flipkart said that to boost transparency and assist customers with selecting the right product from the vast range on the platform, it has consolidated brand/product images and images from actual customers under one tab. Beauty is one of the fastest-growing product categories online, and Flipkart currently hosts over 20,000 brands who sell more than 10 lakh products in this segment.
B2C E-commerce Practices to Adapt for selling Health & Beauty
- Offer a seamless user experience: An easy yet eye-appealing website design proves to be a hassle-free shopping experience. An easy-buying process from cart calls for shorter purchasing experience.
- Payment gateway options: It should securely interface between an eCommerce website and a customer’s preferred mode of payment, which can be their bank account, credit card, debit card, gift card, or any online wallets. With multiple payment gateway options, customer purchasing experience becomes more relevant and nice.
- Integrate inventory management system: One of the successes of e-commerce will be a faultless inventory management that stocks and delivers without any delays. B2C marketplace should have options for connecting to business systems like a CRM or an ERP as well to integrate Inventory in a real-time system.
- Offer a continuous customer support service: Integrating a multiple communication channel for customers such as social networking is one of the best ways to reach a potential customer. B2C marketplace should enable customers to actively converse with clients and prospects regardless of where they will be buying apparel or not. These interactions include alerts such as waiting orders and orders confirmation. Moreover, as consumers tend to pay great attention to reviews a new trend in the B2C space is to allow comments on their platforms.
- Attract potential customers with exciting offers: A new way of selling products is to offer discount coupons to customers like first-time user discount, festival discounts, birthday or anniversary discounts, etc. One of other tactic is to offer an influencer referral discount which is also called as influencer marketing.