Demystifying Digital Success in the Beauty Industry: How Digital Transformation Is Catapulting Beauty Brands Into the Future
COVID-19 closed stores and salons around the world, driving shoppers to the safety and convenience of ecommerce and simplified at home selfcare. While few consumers were interested in maintaining their complete beauty routines for Zoom meetings, the industry saw a steady surge in the demand for skincare, haircare and wellness products as the global consciousness shifted to wellbeing in a turbulent time. The brands that profited most from this disruption embraced new technology to serve customers at home, re-imagining product marketing and enhancing the online shopping experience with increased customization, speed, and virtual service.
Today, as mask mandates are being lifted and consumers are eagerly re-entering their work and social lives, they are buying beauty products with unprecedented enthusiasm. With a staggering $511B in revenue across the health and beauty industry in 2021 and with predictions to exceed $718B by 2025, the beauty industry is back with a bang. To meet consumers’ elevated expectations for personalization and service, compete with digital first brands, and lead in this highly competitive market, beauty companies are heavily investing in digital innovation.
From brands born on TikTok and Instagram, to smart products that are mastering the nuances of skin tones, digital innovation is driving the ways that consumers discover, buy, and engage with brands today. To capture and sustain the interest of today’s eager and discerning shopper, creating and sustaining an exciting presence in the digital sphere is a must.
Whether taking the first steps or investing deeper into the digitization of their brands, there are four key considerations savvy health and beauty companies are keeping front of mind to guide their technological transformations.
- Product Development & Innovation: does the brand lead with cutting edge product innovation; should the brand invest in AI/AR/ML and other technologies to create smart products that intelligently adapt to consumer desires and needs?
- Marketing, Brand & Product Discovery: how does the brand touch and engage with the target customers; could investments in algorithmic recommendations, personalization and social selling help the brand grow market share?
- Ecommerce and transaction support: how do the customers shop; how does the brand use technology for omnichannel personalized commerce that offers friction free purchasing and increases conversion?
- Supply Chain & Demand Forecasting: how can the brand more accurately anticipate product demand and manage my production and inventory? Can the brand optimize profitability and capture additional sales by leveraging new database and analytics capabilities?
How Beauty Brands Are Winning Consumers by Going Digital
To answer these questions, we’ve turned to the AWS Partner VTEX, AWS Health & Beauty leaders, and other subject matter experts, to help beauty brands make the right technology calls.
The live event, How Beauty Brands Are Winning Consumers by Going Digital, explores how digital transformations are propelling beauty companies ahead of their competitors in our time of an unprecedented global transition to hybrid working, living, and shopping.
In this rich in-person discussion in Chicago, the panel will address how marketing, advertising, and brand differentiation are key considerations for your business strategy and how your consumer behavior and expectations need to dictate your technology selections. Not the other way around.
Panelists for the How Beauty Brands Are Winning Consumers by Going Digital roundtable include:
- Ali Kole, World Wide Director of Health & Beauty at AWS, Former SVP at Sephora
- Mariano Gomide, CEO at VTEX
- Charles Desjardins, EVP at Valtech
Jordan Jewell, Director of Merchant Growth at VTEX, Former Research Director at IDC
Get in on the cutting edge of health and beauty retail. Register here.
The event will be held in Chicago on June 7, 2022 at 5:00 to 8:00 pm
Location: The Robey | 2018 West North Ave., Chicago, IL 60647
AWS Partner Spotlight
VTEX is a global technology company that provides a fully integrated, end-to-end commerce solution with native marketplace and OMS capabilities. VTEX helps enterprises in retail, manufacturing, wholesale, grocery, consumer packaged goods and other verticals to sell more, operate more efficiently, scale seamlessly and deliver remarkable customer experience. Major brands including Whirlpool, Sony, Carrefour, Adidas, Stanley Black & Decker, AB InBev, Nestlé and Coca-Cola Andina, plus 2,500 active online stores across 32 countries, trust VTEX to accelerate and transform their commerce. Visit www.vtex.com to learn more.