When it comes to innovation and marketing strategy, beauty brands are leading the way. The beauty industry is transforming by embracing personalization, augmented reality (AR), and virtual reality (VR) to acquire new customers and grow long-term relationships.
It worth to be mentioned that, the Euromonitor International reports that global spending on personal care and beauty is outpacing apparel and footwear brands. The global cosmetics market is expected to grow to $429.8 billion by 2022, up 4.3% from 2016.
Individual brands have the challenge of selling their own products while at the same time competing with other retailers selling their products. Retail strategists at Sailthru have come up with six strategies to help the MAC, Benefit, Too Faced and Urban Decay of the world to enhance their owned channels and experienced enough to compete with the juggernauts.