The skincare business is a $100 billion industry and it is not slowing down. The industry is projected to grow by an additional $50 billion by 2028 at a CAGR of 5.52%.
Before starting, we must understand that marketing is the most important part of a skincare brand.
Product is a crucial part of starting your skincare brand. Before developing the product, understand the needs of the customer.
Your research must have the answer to the following:
(Is it acne? Is it blackheads? Is it dark patches on their skin?)
(Dry, Oily, Combination, Sensitive or Normal)
If you are concerned about how you will find out about this, here is what you can do:
As a result, this will help you to understand the market better and provide solutions that customers need and want.
The product line is the most important decision you will make when starting a business. It is what differentiates your brand from others in the market.
If a company is not able to create a certain product that will be of interest to its target audience, then it will not be able to grow.
Thus, the product line should be crafted with care and consideration.
It needs to have products that are complementary, yet different enough from each other so as not to cannibalize sales. They should clearly focus on one need at a time.
The products should be based on the customer's needs and budget.
The factors that go into deciding the pricing of a product are manufacturing costs, marketing costs and distribution costs.
Thus, you can use the following list of average prices of skin care products in the Indian Market:
The pricing of products should attract customers and at the same time must not seem too expensive for them.
Get the word out there to know the feedback on your skin care products.
You can do this by giving away free samples of the product in workshops.
It will allow you to get feedback from people who are interested in what you have to offer.
As a result, it will benefit you in the following ways:
Skincare products are very personal to people who use them. So, they need to feel confident that they are buying a product that will work for them.
The next step is registering your skincare brand in India.
For this purpose, you need to find the right business service provider.
Interestingly, we at StartEazy not only guide you on how to start a skincare brand, but we can also help you register it legally.
Fill out the form on your right and get in touch with an expert.
They will answer all your business-related queries and help you to register your business with the government.
Accordingly, you can choose from the following business structures when starting a skincare brand:
Though, when we talk about "BRAND", it is more suitable to go with a private limited company registration online, one person company or a limited liability partnership.
Marketing plans are essential for a skincare brand to succeed in the competitive market.
Marketing in India is more than just a slogan.
How did "The Body Shop" market their products so well ?
How did they become famous?
How did they gain customers' trust?
How did it become a premium brand?
Firstly, they focused on the basics which are personalizing the skincare, using organic ingredients and making cruelty-free products. And they did not do it silently. Instead, they screamed out the benefits loud and clear.
Secondly, they used influencer marketing. Basically, they asked the people trusted by their customers to promote the brand, and it worked.
In fact, the influencers shared coupon codes, discounts and giveaways in their posts which increased their sales.
As a result, it helped them create a loyal customer base.
Thirdly, they used the premium pricing strategy to become a Premium Skincare Brand.
Marketing your skincare brand the Right Way can help you with educating your potential customers about the product and how it works. Moreover, it can make the product more appealing by showing off its benefits and giving them a reason to buy the product.
It is about building a brand that can be trusted by the Indian consumer.
For this purpose, you can use social media (Instagram, Twitter and Facebook) and local advertising sources to make people aware of your brand.
One very effective way is through influencer marketing.
You can reach out to influencers on social media to promote your products. You can either offer them store credit, free products or compensation in some form.
But, only marketing is not enough.
You have to make the products accessible to people and direct them to where they can buy them from.
So you can either take your business online or follow the next step.
The first thing you need to do is decide on a good location.
This could be a shop, or if you are running an online store, it could be your home address.
You also need to decide on the size of the store.
If you have enough money and resources, it is recommended that you go for an 800-1000 sq ft space.
However, if you can not afford this much space, then start small with a 200-500 sq ft store.
If possible, try and find a location that is near other stores in your niche or where there will be high footfall for your target demographic.
You should also consider the accessibility of the location - will customers easily find parking? Is there public transport nearby?
Always make sure that you have enough space for all your products and enough room for customers to walk around freely and try out the products on display.
One thing that is most important to make a skincare store standout is to make it attractive. For this purpose, you must have a theme and ambience for your store.
To come up with a theme you can either take ideas from the ingredients of your product. For example, if you promote organic, you can add green and fresh colors to your theme.
You can also consider the aesthetics of the city you are setting up your store in. For example, if you are setting up in Jaipur, you can take theme ideas from the culture of the city.