According to Euromonitor, the global market for cosmetics and personal care, including hair care, makeup, and fragrances, is growing rapidly. Although major cosmetics brands have typically dominated the majority of market share, the growth of eCommerce has made the cosmetics industry more accessible than ever to aspiring entrepreneurs.
Whether you’re interested in working as your own boss or selling cosmetics as a side gig, starting your own cosmetics business can help you fuel your passion and earn an income doing what you love. So, how can you get started selling cosmetics and other beauty products online?
Build Your Brand
To compete with other businesses and major cosmetics brands, you’ll need to build a strong brand. Brand recognition is key in the eCommerce space, and customers are more likely to buy from a brand with a powerful narrative. To build your brand, think about your target demographic—are they make-up artists, college students, or busy moms?
Start by visualizing your ideal customer, researching their interests and habits, and building your brand around that customer. Additionally, design a logo and create branded social media accounts for your business.
If you’re having trouble brainstorming ideas for your brand, try visiting other online cosmetics stores. For example, Glamnetic, a high-quality, cruelty-free cosmetics brand, focuses on providing an effortless experience for their consumers. With easy-to-apply faux mink magnetic eyelashes and liners, Glamnetic makes it easy for all make-up lovers to finally be able to wear the lashes of their dreams and feel their best. Visiting online cosmetics stores can help you find inspiration for your own brand and cosmetics line.
Choose A Supplier
Whether you’re running a brick-and-mortar store or an eCommerce business, inventory is essential. If you can afford inventory space, buying cosmetics and other beauty products at wholesale prices can help you maximize your profit margins. To find a supplier, contact your favorite cosmetics brands and ask about wholesale pricing.
If you’re working with a limited budget, end-to-end eCommerce fulfillment services can help you save on overhead costs while turning a profit. Fulfillment services typically provide inbound, inventory, and order management, as well as processing, packaging, and shipping to customers.
If you’re not sure where to start, check out newegglogistics.com. Newegg Logistics provides world-class logistics and supply chain solutions for eCommerce stores, making it easier for you to grow your business by reducing inventory costs and streamlining supply chain efficiencies. In other words, you won’t have to worry about storing inventory because your orders will be shipped to your customer from the fulfillment center.
Create A Website
Starting your own online cosmetics business requires creating an online store to list and sell your products. Many eCommerce businesses choose platforms like Shopify and Wix to build their own branded websites, while others choose third-party platforms like Etsy and eBay. Although branded eCommerce websites are more professional than third-party stores, services like Etsy offer visibility and are typically easy to use for first-time business owners.
Start Marketing
After you find a reputable supplier or fulfillment center, you can focus on marketing your online cosmetics business. To raise awareness of your brand, try using social media platforms like Pinterest and Instagram to show off makeup looks and showcase your products.
Additionally, consider posting makeup tutorials on Youtube or investing in influencer marketing to promote your cosmetics line. Affiliate programs, which pay influencers a commission for each sale they make for your business, can help raise brand awareness and drive business.
Above all, make sure to use social media to your advantage. Social media is a free way to promote new products and sales, connect with customers, and show off different looks. Aim to create a community around your brand to inspire customer loyalty and promote customer engagement.
Starting your own online cosmetics business requires hard work and determination, but the proper preparation and research can help you succeed.
