Health and Beauty is one of the sectors that has been growing lately within the retail industry. At a time when there is a stronger push for e-commerce, it is worth highlighting the progress that Health and Beauty stores are making, especially in comparison with other sectors, which either are either not growing as much, or are decreasing their capacity.
There are a number of factors which influence this remarkable growth and these must be considered in order to understand it. This is what we will be doing to explain the rise of a sector that, only a few years ago, didn’t seem this important to the retail market.
Causes for the Health and Beauty Sector’s Growth
Without a doubt, one of the main reasons for this growth is innovation. In a world in which science and technology are advancing at breakneck speeds, a standstill could result in the economic and corporate collapse of a sector. This an area in which the Health and Beauty sector has adapted well.
We are not just talking about advances in creating and distributing new products, but also how they are displayed and sold. This is a success factor which the most innovative retailers take responsibility for.
Following this trend, the main groups in the cosmetics and perfume industries have focused on opening their own stores. Their goal is to be able to incorporate innovations more quickly and easily, maximize the consumers’ shopping experience, and have direct access to the data that is generated by these innovations. They also seek to lessen their dependence on perfume shops and department stores as well as on social media managers when it comes to collecting data on their consumers.
Stores that specialize in these types of products are at the forefront, in that every part of the store has significance and entices people to come in and shop. In this aspect, innovation is essential because the competition is very tough, and many of these establishments are equipped with cutting-edge technology which makes their shopping areas much more attractive and inviting.
As an example, in the case of Clapés Perfume Shops HMY worked to offer customers a different shopping experience. Here, in addition analyzing the brand’s overall needs, we proposed that digital elements be introduced such as digital displays which feature the synchronization of content, creating a more comprehensive in-store experience. These screens provide customers with information in addition to providing a more unified corporate image, for both the shop and the brands that are sold in it.
Innovation as a Response to Consumer Demand
Although innovation is considered a key factor of this sector’s growth in retail, there are other factors that have triggered this trend.
First is the fact that health and beauty are becoming increasingly important to consumers. In the last few years, there has been an increase in awareness when it comes to healthy lifestyles and habits. And for this, personal care, cosmetic and health products are essential.
In light of the higher demand for these products, companies have invested more in R+D+I, and this investment is reflected at every stage, from production to distribution.
But we must also take into account that due to the characteristics of these products, many people prefer to seek advice about them and buy them in person. The characteristics of these goods could be compared to that of fresh foods, which consumers do not just rely on shopping for online, as they are handled more carefully and intended for personal consumption.
Also, in the case of cosmetics, buying in person allows customers to personally test many of the products, so that they are guaranteed to find something that is exactly what they are looking for. This reduces their risk of dissatisfaction which is present when online shopping.
An Example for Other Retail Sectors to Follow
The case of Health and Beauty products is paradigmatic in discussing the future of retail. In the face of current challenges in the world of retail, there is a need for solutions that respond to the end consumers’ demands.These solutions must be innovative, challenge traditional ways of doing things, and provide the customer with something different and distinctive.
Clearly each sector has its own peculiarities, and Health and Beauty has figured out how to take advantage of its own to succeed in the retail trade. But with hard work and attentiveness to consumer demands, this success can also be transferred to other markets.
