BusinessHABSpay Online Marketing: Beauty supply stores sell a wide range of beauty products.
From makeup to sun care.
Skin care, cosmetics and hair care products are the most retailed products in this industry.
Beauty, Cosmetics & Fragrance Stores Industry comprises of stores that predominantly retail cosmetics, perfumes, toiletries and personal grooming products et al.
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Starting a beauty, cosmetics & fragrance store is not a difficult business to start.
And it is not so capital intensive especially if you choose to start on a small scale within your neighborhood.
Getting the right brands that people want to buy and good stock.
Keeping records are the secrets of running a retail business such as beauty, cosmetics & fragrance stores.
Beauty, Cosmetics & Fragrance Stores Industry is indeed a large industry.
And pretty much active in countries such as United States of America, United Kingdom, France, Italy, Holland, Switzerland, Japan, China, Germany, and Canada et al.
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Statistics has it that in the United States of America alone, there are about 91,236 registered beauty.
Cosmetics and fragrance stores responsible for employing about 230,527.
And the industry rakes in a whooping sum of $21 billion annually.
The industry is projected to enjoy 4.7 percent annual growth.
The establishment in this industry that has a dominant market share in the United States of America are;
L Brands, Sally Beauty Holdings, Inc., Sephora and Ulta Salon, Cosmetics & Fragrance Inc.
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A closer study of the industry activities shows that skin care, which includes lotions and face creams.
Accounts for the largest share of revenue in the industry at an estimated 27.0 percent.
Most of these items are considered less discretionary than cosmetics and fragrances, which has allowed this market segment to grow even during times of weak consumer spending, as was the case amid the recession period.
As a matter of fact, innovative skin care products specifically designed to combat aging has increased earnings for this industry.
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So also, over the last five years.
Expansive product selections and skilled staff have driven revenue for the Beauty.
Cosmetics and Fragrance Stores industry.
Studies shows that an increase in youth-targeted cosmetics, the expansion of male-specific products and the reformulation of anti – aging staples have given specialty beauty stores a new array of items to offer customers.
If you are contemplating starting your own beauty, cosmetics & fragrance store business in the Nigeria.
You should ensure that you carry out a thorough market survey and feasibility studies.
If you get some key factors wrong before starting your any business.
Then you are likely going to struggle to stay afloat.
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But over and above, beauty, cosmetics & fragrance store business is a thriving and profitable business.
Especially if you are creative and ready to take on the available market.
Within the location where your business is located.
- Introduce your beauty supply store by sending introductory letters alongside your brochure to corporate executives, students, migrants, entrepreneurs, business people, celebrities, public figures, military men and women, sports men and women, tourists and every adult in the neighborhood where your beauty supply store will be located
- Advertise on blogs and forums and also on social media like Twitter, Facebook, LinkedIn to get your message across
- Create a basic website for your business so as to give your business an online presence
- Directly market your products
- Engage in road show in targeted communities from time to time to sell your products
- Join local beauty supply store associations for industry trends and tips
- Provide discount days for your customers
- Advertise our business in community based newspapers, local TV and radio stations
- List your business on yellow pages ads (local directories)
- Encourage the use of word of mouth marketing (referrals)
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Factors That Will Help You Get the Right Product Pricing
One key factor that will help you sell your beauty care supply products at rock bottom prices is to purchase your items directly from manufacturers in pretty large quantities. The truth is that the higher the quantity of items that you purchase directly from the manufacturers, the cheaper you tend to get them.
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Another strategy that will help you retail your beauty care supplies at the right price is to ensure that you cut operational cost to the barest minimum, and channel your efforts towards marketing and promoting your brand name. Aside from the fact that this strategy will help you save cost, it will also help you get the right pricing for your products.
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You can also try as much as possible to work with independent contractors and marketers; it will help you save cost of paying sales and marketing executives.
Strategies to Boost Your Beauty Supply Store Brand Awareness and Create Your Corporate Identity
If you are in business and you are not conscious about boosting you brand awareness and communicating your corporate identity, then you should be ready to take on whatever the society portrays your business to be.
One of the secrets of larger corporations is that they are willing to spend fortunes year in and year out to boost their brand awareness and to continue to communicate their corporate identity the way they want people to perceive them to be.
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If your intention of starting a beauty supply store business is to grow the business beyond the city where you are going to be operating from to become a national and international brand by opening chains of beauty supply stores and franchising, then you must be ready to spend money on promotion and advertisement of your brand.
Beauty Spay Online Marketing Strategies
No matter the industry you belong to, the truth is that the market is dynamic and it requires consistent brand awareness and brand boosting cum promotion to continue to appeal to your target market. Here are the platforms you can leverage on to boost your brand awareness and create corporate identity for your beauty supply store;
- Place adverts on both print (newspapers and beauty care and cosmetics magazines) and electronic media platforms
- Sponsor relevant community based events
- Leverage on the internet and social media platforms like Instagram, Facebook, Twitter, YouTube, Google + et al to promote your products
- Install your billboards at strategic locations all around your city or state
- Engage in roadshows from time to time in targeted neighborhoods to create awareness of your beauty supply store
- Distribute your flyers and handbills in target areas
- Contact corporate executives, students, migrants, entrepreneurs, business people, celebrities, public figures, military men and women, sports men and women, tourists and every adult in the neighborhood where your beauty supply store will be located informing them about your business and the products you retail
- List your beauty supply store in local directories
- Advertise your beauty supply store in your official website and employ strategies that will help you pull traffic to the site
- Position your Flexi Banners at strategic positions in the location where your beauty supply store is located
- Ensure that all your staff members wear your branded shirts and all your vehicles are branded with your company logo.
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