The cosmetics business not only in Vietnam but also around the world is growing at a rapid pace. The demand for care and beauty with a variety of products has increased, requiring a huge supply of quality from famous countries for cosmetics such as France, Korea, etc.
In order to help you gain more knowledge in the cosmetic business, Malu would like to send you an article about 10 experiences in selling cosmetics on the online market. Hope these sharing will help you a lot in future business activities.
The demand for the mid-to-high cosmetics segment has also increased dramatically in developing countries like Vietnam. The cosmetics industry spans many different business items such as skin care creams, aromatherapy, beauty salons, spas, cosmetic stores, hair salons and even makeup shops are also part of this industry.
If you are planning to start a cosmetics business, start this year, now. Many great opportunities are waiting for you.
According to the statistics of marketresearch.com, the world cosmetics market is predicted to reach the milestone of 430 billion dollars by 2022.
10 Tips To Help You Start Your Own Cosmetic Business
1. Understand the Regulations on Management of Cosmetics
First, you need to understand and understand the regulations on cosmetic management of the Ministry of Health on issues such as: + Business registration license + Papers for the publication of cosmetic products + Information clear and complete products of origin + Product safety requirements + Advertising requirements (many false cosmetic advertising units have been severely fined by the authorities. )
To open a cosmetic shop, you have 2 options: Rent a space in the central area, crowded with people, or do business in an area near your home with an affordable price (or open your own door). goods at their home).
Finding cheap places to start is very useful advice, when you are not sure if your product will be loved by the market or if you have the resources to compete with other brands.
3. Choose a niche
Selecting areas in which you specialize and already have experience in manufacturing or distribution is the next tip of the cosmetics business. For example, you have certain knowledge about selling natural makeup products, or natural cosmetics or lip care, for example.
Focus on cosmetic markets where you already have enough knowledge to advise as well as choose good products for your customers.
Do not try to produce or distribute too many things at once when starting a cosmetics business. Moreover, by choosing a niche, you can focus on building marketing strategies that are relevant to your target audience.
A good option to start a cosmetics business is to sell online. In addition to the familiar and crowded Facebook or Instagram channels, the website is sometimes also a potential channel if you show your professionalism. You need to create an e-commerce system on the web, integrating more online payments.
But for a successful online business, you need to optimize your costs as much as possible, because only giving a reasonable price will make users make a purchase decision.
There are many website design tools, landing pages for very professional sales work at a moderate cost. Please consider this option.
5. Brand promotion
When starting a cosmetics store, you also need to focus on building awareness of the special products you have among your target customers. Explore the right places in the city, bring your products to the units that use cosmetics to promote.
In addition, you can also organize product launch events, promotions, and discounts.
In addition, on social channels and websites, all products need to have clear images and describe information in the most detail. Build effective content strategies to increase engagement with social media followers.
6. Develop a marketing plan
A right marketing plan will outline for you the directions to reach the most customers.
For products in general and for the cosmetic industry in particular, whether or not there is a lot of demand depends on the marketing team creating a trend for that product or not.
7. Design recognizable brand logos
Customers identify a business or store by looking at their logo on advertisements, or on product packaging. Brand identity is extremely important to help you have professionalism, and more importantly, the trust of customers.
Seek out experts in branding and design for advice on getting a good logo and identity.
8. Call for capital
You can start by borrowing money from family and friends. Once developed, you can go to raise capital from your own loyal customers.
With solid financial resources, marketing and PR campaigns will also be more effective.
9. Product testing
Before deciding what cosmetic item to sell, check the product. Give some samples to acquaintances, friends, and yourself to assess product satisfaction compared to the price. This step will help you further determine whether the market and target customer files are ready for your product.
Before importing a large number of items to optimize the initial cost, you need to make sure that you will not be subject to “bombing”. Only do that when you have tested the “market” properly and enough.
10. Collect comments and improve
Customer feedback is the valuable thing businesses receive, because thanks to that, we know what we are lacking and what needs to be improved. But to receive those feedback instead of waiting for customers to take the initiative, you should co-host ask them to comment on you.
In addition, you can also ask for comments and advice from experts, famous people or use cosmetics to develop your business.
In conclusion, the cosmetics business is a very potential industry in Vietnam. There is not much demand in addition to reputable brands trusted by users. There are still plenty of opportunities for you to get rich in this market.