The article discusses the transformative impact of Amazon and TikTok on the beauty retail sector. Online sales of beauty products have surged to 43%, up from one-third four years ago, with Amazon increasing its market share by 7.3 points. The pivot of prestige brands like Estée Lauder to sell on Amazon signifies a major shift in strategy. Additionally, TikTok's shopping integration appeals to Gen Z, further complicating the beauty retail landscape where online venues are gaining ground but in-store shopping still prevails.
The beauty retail landscape is evolving rapidly with Amazon and TikTok shaping new channels, while in-store sales still dominate but are increasingly challenged by online platforms.
Amazon's share of beauty sales has surged by 7.3 points in three years, reflecting its enhanced product selection and commitment to quality.
Prestige beauty brands are increasingly joining Amazon, a shift marked by Estée Lauder's debut of Clinique, signaling a major change in the market.
TikTok's integration with shopping capabilities aims to engage Gen Z consumers, positioning the app as a key player in the online beauty marketplace.
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