The global beauty market grew by 7.3% in 2019, with the US leading the way in e-commerce sales

It is learned that on February 24, according to foreign media reports, according to the latest data from NIQ, e-commerce has become an important driving force for the growth of the global beauty industry. In 2024, the value of the global beauty market will increase by 7.3% year-on-year.

Data shows that many regional markets have grown significantly, especially Latin America and Africa-Middle East, which have achieved growth of 19.1% and 27.1% respectively. North America and Western Europe also showed strong growth momentum, increasing by 7.8% and 7.7% respectively. Among them, US e-commerce sales accounted for the majority of beauty industry sales, with about 41% of beauty products completed through online shopping platforms.

NIQ pointed out that inflation is one of the main factors driving the growth of e-commerce sales worldwide, while income growth and the influx of new consumers have also played a positive role in the sales of beauty products. Data shows that the growth of e-commerce sales in different regions varies significantly. In China, 87% of hair care and skin care product sales are completed through online channels, while in India, only 17% of beauty products are purchased through online channels, and in Brazil, the proportion is even less than 10%.

Although e-commerce penetration rates vary by region, the overall trend shows that online sales are gradually becoming more dominant than traditional in-store purchases. In the United States in particular, online sales continue to significantly outpace in-store purchases, accounting for approximately 41% of all beauty and personal care product sales. Over the past four years, e-commerce platforms such as Amazon have gained significant market share and driven the growth of beauty e-commerce sales in the United States by offering competitive prices, fast delivery services, and a rich selection of products.

In addition to traditional e-commerce platforms, social e-commerce has also become a global trend, and impulse purchases on social platforms are becoming more and more obvious. Data shows that 68% of purchases are made on impulse on social platforms. TikTok Shop has become the eighth largest online health and beauty retailer in the United States, with sales of beauty products reaching $1 billion, and 12.5% ​​of American e-commerce shoppers purchase beauty and health products through the platform. TikTok Shop also performed strongly in China, with 31% of skin care sales coming from the platform, making it the preferred destination for consumers to discover, learn about and try new brands.

Tara James Taylor, senior vice president of beauty and personal care at NIQ, said that the beauty industry is undergoing rapid changes, and success in the global beauty market, which is worth more than $1 trillion, will depend on the balance between innovation and tradition, affordability and luxury, sustainability and scalability, and personalization and inclusiveness. With the continuous change of consumer demand and the intensification of market competition, beauty brands and retailers need to adjust their strategies agilely to meet future challenges.

Author ✎ Rayna/

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