The world of discovering, buying and learning about beauty products has gone digital. This revolution started organically from peer-to-peer online sources, discussion forums, video blogs and has now made itself into the actual retail experience.
Beauty brands around the world are providing their customers with tools like L'Oreal's MakeUp Genius and Olay's Skin Advisor to that provide value for customers in understanding which products customers should consider and why.
The digitalization of beauty has presented these brands with unprecedented opportunities in moving towards selling products directly to shoppers as opposed to relying on their retail partners. And when they do, retailers who rely on traditional e-commerce tactics to sell beauty products will be on the losing side of the table.
By providing tools that help the shopper, brands have realized their opportunity to bring the in-store beauty consultant to the digital world and provide a digital customer service representative to every beauty shopper globally, regardless of time and location. For beauty shoppers, this has become the new normal.
Retailers, already facing increased competition from the likes of Amazon, the countless subscription commerce and direct-to-consumer business models that have emerged in the last decade can no longer afford to create incremental improvements to the retail customer experience for beauty.
To retain the status quo, not to mention have a chance of growing market share and keep up with the rapid pace of innovation coming from from beauty brands into digitalization, retailers need to place serious consideration in adopting similar tools and services seamlessly as part of their online and mobile shopping experiences.
Those who do not, risk becoming the Kodak's of beauty.
For information on how we at Revieve help retailers avoid Kodak's fate, visit our website.