Beauty Reimagined: Navigating the Cosmetic Industry's Digital Transformation

Young Won Park () and Paul Hong ()
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Young Won Park: Saitama University
Paul Hong: The University of Toledo

Chapter Chapter 3 in Cosmetics Marketing Strategy in the Era of the Digital Ecosystem, 2024, pp 47-74 from Springer

Abstract: Abstract In this chapter we delve into the dramatic digital transformation of the cosmetics industry, which has seen traditional business models upended by the rise of e-commerce, social media marketing, and digital innovation. This shift has been propelled by consumer demand for more accessible, personalized, and diverse shopping experiences. Cosmetic companies have leveraged technological advancements to meet these demands, transitioning from brick-and-mortar stores to online marketplaces and utilizing data analytics to tailor their marketing strategies and product offerings. The chapter underscores the significance of mobile commerce and the role of influencers in shaping modern consumer behaviors, reflecting the cosmetics industry's redefined landscape, where e-commerce has become an integral component of business strategy. This chapter also highlights the industry's response to COVID-19, with brands adapting by producing sanitizers and cleaners while navigating the decreased demand for traditional makeup. Despite these challenges, the market has shown resilience, with projections indicating continued growth fueled by an increasing preference for organic and sustainable products. The rise of “green labeling” and the move towards natural, non-toxic cosmetics are reshaping market dynamics, underscoring the importance of transparency and ethical manufacturing. As the industry continues to evolve, it becomes clear that success hinges on the seamless integration of quality, sustainability, and ethical practices into both product development and marketing strategies.

Date: 2024
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DOI: 10.1007/978-981-97-3674-4_3

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