There is simply no denying the fact that the cosmetics industry is a lucrative one. It has always been and it always will be. After all, who doesn’t want to look their best at all times? Everyone does and most people are willing to spend barrels of money to ensure that they do look their best. This is especially true amongst the millennials. It seems that as of recent the millennials are dominating the cosmetics industry. And, is exactly why more and more small cosmetic businesses are specifically targeting millennials with their ads.
Social Media Trends
If there is one thing that is timelessly popular in today’s world it is social media. Just look at the number of people that are using social media these days. Everyone from your grandmother to your 10-year-old next-door neighbor knows how to log online and video chat with someone from a distant country. Well, if you have been on social media then you know that trends are also a major thing, especially amongst the millennials. It seems that these groups of people just love trends and want to be a part of them. This is why smaller cosmetic companies are cornering the market by starting cosmetic social media trends.
Reviewing Products Online
There is no denying the fact that millennials are at the heart of the economy. They are the youngest driving force in the workforce. Simply put, millennials are more likely to spend money than any other type of generation. However, what might surprise you is that they are a group of people that are willing to spend that money in brick and mortar stores as opposed to online stores.
That’s right, millennials are more prone to shop in big box stores than online. However, this does not mean that they aren’t willing to look for reviews online. In fact, most millennials will review products as well as look at the makeup using Benefit Cosmetics before even thinking about buying specific products. Smaller cosmetic companies are taking advantage of this by providing online comprehensive reviews of their products.
Learning About Products Online
Social media is not only good for conversing with friends and keeping in touch with business associates from around the world. It can be used for a number of activities, one being researched. Learning how to apply makeup, when to apply it, what kind to apply, and where to apply it can be a lifelong quest. Many women experiment with tons of different styles and brands before finally settling on something permanent. And, many never do settle on anything permanent. They find themselves constantly bouncing back and forth. And, this is just another way that smaller cosmetic companies are cornering the market. They are willing to provide helpful information and answer customer’s questions.
Summary
The cosmetics industry is lucrative and there is enough for everyone, as long as you take the right approach. It is obvious that you will need to target millennials, and with the above information, you shouldn’t have a problem marketing specifically to this age group.