"Beauty retail is big business, garnering sales in the range of $55 billion this year. Massive transformation is occurring as the youngest generations drive the future of the market. In-store shopping and buying is strongly preferred over online due in part to specialty beauty retailers luring in customers to immerse themselves in the beauty world, surrounded by technology to enhance their experiences. However, e-commerce will only continue to account for a larger share of total sales with mobile sales fueling this growth while Amazon continues to make inroads. Retailers need to be up on the latest beauty trends such as interest in natural products and simplified routines as well as demands relative to how consumers want to shop the category. This will require the ability to be nimble to keep up with the cyclical nature of some trend-driven beauty segments while also maintaining restraint to stay focused on long-term strategies to drive business."
- Diana Smith, Associate Director - Retail & Apparel
This report will look at the following areas:
Slow growth expected for the future A whole new retail landscape Role of sales associate evolves