Digitalization of Beauty Market size is projected to reach USD160 Billion units by 2026, growing at a CAGR of 5.4% globally.
A New Research on the Global “Digitalization of Beauty Market was conducted across a variety of industries in various regions to produce effective and useful reports. This study is a perfect blend of qualitative and quantitative information that highlights key market developments, gap analysis of industry and competitors, and challenges to new opportunities, and can trend in the market.
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The beauty industry is the fastest growing category under consumer goods due to digital transformation. Digitization has revolutionized the way brands connect with their customers through social media and e-commerce. Digitization creates a long-term relationship between brands and their consumers. Beauty brands like ColorPop created a “how to” video to show consumers how to clean their makeup brushes for example on IGTV. Bobbi Brown has also offered daily lessons for their makeup artists, with a live audience.
The Digitalization of Beauty market report comprises of:
- Past acquisition strategies supported
- Activities taken to remove competitive barriers
- Action’s data to resolve deficient data issues
- Changes in the market place (suppliers, trends, technologies)
- Past acquisition history
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Leading players involved in the Digitalization of Beauty Market includes:
Unilever, Procter & Gamble, Adimo, Amorepacific Corporation, CFEB Sisley SAS, Elizabeth Arden Inc, Johnson & Johnson, Lancer Skincare, L’Oreal S.A, Shiseido
In addition to recent developments, this study examines current market trends related to demand, supply and sales. Key drivers, restraints and opportunities have been covered to provide a thorough picture of the market. The analysis provides in-depth information on developments, trends, industry policies and regulations implemented in each region. It has also thoroughly covered the overall regulatory framework of the market, giving stakeholders a better understanding of the key factors influencing the overall market environment.
The analysis also divides the Digitalization of Beauty Market on the grounds of main Product Type:
Software, Service
The analysis also divides the Digitalization of Beauty Market on the Applications:
Beauty Companies, Retail, E-commerce
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The report offers an in-depth geographic analysis of key regional and national markets. An in-depth analysis of the competitive landscape to understand strategies adopted by key players in terms of product and geographic expansion, mergers and acquisitions, partnerships and collaborations. It separates useful and relevant market information and provides readers with validated market size estimates and forecast figures including CAGR and share of key segments.
Impact of COVID-19 on The Digitalization of Beauty market:
Prior to Covid-19, the use of social media platforms was thought to cause social isolation. However, the current situation of confinement and social distance in our homes certainly encourages customers and brands to become more dependent on the Internet. The last decade of this cosmetology digitization, whether coronavirus or not, has influenced the way we learn and buy products.
It really allowed the emergence of new brands to come at an astonishing speed. E-commerce sites are much easier to set up than regular lab settings. Working with contract labs to generate smaller runs also facilitates personalization ideas and customization possibilities.
We also know that social media platforms are bigger than ever. Especially the latest members of the digital community, such as Instagram and TikTok. During this pandemic, brands have actually begun to connect with consumers for longer engagement on sites and the like using these platforms. Below is data showing IGTV's references in the beauty of IG and Twitter from March to April in the United States and around the world.
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Objective of Studies:
- To provide strategic profiling for key players in the market, comprehensively analyze key competencies, and drive market competition.
- To provide insights into factors affecting Digitalization of Beauty market growth. Market analysis based on various factor-price analysis, supply chain analysis, porter five force analysis, etc.
- To provide detailed analysis of the market structure, with forecasts for various segments and sub segments of the Global Digitalization of Beauty market.
- To provide a national level analysis of the market in terms of current market size and future outlook.
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