The COV-19 epidemic that started in 2020 will continue to affect the world economy, but in 2022, most countries will gradually open up and control, and the world economy will gradually recover. According to industry reports, it is predicted that the cosmetics industry will reach about 203.4 billion US dollars by 2026.
The skincare industry is the most profitable industry. With the arrival of Gen Z and a huge shift in the way the Internet buys, it is important to meet individual needs, so independent beauty brands in niche markets have a better chance of succeeding. Although there are many players in the beauty market, it is still very suitable for low-cost startups and has a lot of room for innovation.
Entering this industry used to require a lot of time and study to understand basic chemistry, labeling, and working with manufacturers. But now there are many high-quality suppliers to help you solve these problems, you just need to follow the steps below to realize your own ideas and start your own business.
- Have your own brand or be an agent/distributor of the brand?
Agent brand skin care products: We can start our own business by acting as an agent for other people's brands. The advantage of an agent brand is that there is less demand for entry funds, and the sales can be tested by a small number of goods in the early stage. Many brands will also provide promotional support and gift promotion support and will receive more support as the volume of goods increases. You just need to think about how to expand your sales. In terms of channels, it is more suitable for physical store sales. If you are mainly selling online like Amazon, it is not recommended to get the goods in this way, because there will be someone selling the same product on the same platform as you.
Own brand skin care products: The advantage is that it can form its own brand accumulation, and can customize products that meet the value proposition according to its own market judgment, attracting people who agree with the brand, and is not bound by a third party. The disadvantage is that you need to be familiar with the formula structure, packaging design, cost construction, market positioning, price strategy, and other related knowledge of skin care products. Projects need more capital to start, and controlling inventory is also a key factor in the success of operations. Fortunately, there are now some companies that can provide related solutions that can provide related services, making this less difficult.
- Find a problem that your target group needs to solve or to solve.
Before you start, you need to go to Facebook, IG, TikTok, and even Google Trends to see the fashion trends, analyze the soaring data of the past one to six months, and see the data coverage of the population size and the collection of popular trends. Finally, determine the best ones, and go to the community and social media to verify whether many people really pay attention to these products or the problems that need to be solved.
- What solutions do we need to provide them?
In response to the above questions, think about what kind of people you are facing. What is the age level, family status, skin condition, occupation, gender, etc.? What kind of products do you want to sell to them, such as exfoliants, serums, creams, moisturizers, acne treatments, or anti-aging? Next, combine the questions you found above and ask yourself what makes your product unique and what your unique selling point might appeal to them. For example, I found that the search volume of Vitamin c products is rising rapidly, so I will add a few related communication groups on social media to see what is being discussed. What are the related products with vitamin c and what problems do they have to solve now? Then go to Amazon to see what the sales and evaluation of related products are, and finally determine what solutions I can provide to them.
- What value proposition needs to be given to the customer?
Skin care product categories that people are more concerned about now:
①Luxury skin care products: luxurious skin care products made with the highest quality ingredients and packaging in the formulation system. Niche market, focusing on the needs of people with higher budgets. For example, the product incorporates relatively rare ingredients.
②Natural skin care products: Skin care products with natural formulas and environmentally friendly packaging products are quite attractive to today's socially conscious groups. Create a line of products that are vegan or never tested on animals to appeal to an environmentally conscious group.
③Treat specific problems: These products solve skin care problems better, such as acne, allergies, skin patches, weight loss, etc. You can offer acne creams for people with acne, or a vitamin c serum for people with dull skin.
④ Minimalism: The main cost of the product is placed in the active ingredients, and the simple packaging is used to highlight the effect of the formula, but the feeling of use is poor. For pragmatic consumers who are particularly concerned about product ingredients.
You can refer to the above examples to find value propositions that can impress customers. For example, for older people, anti-aging products with natural formulas at moderate prices can be introduced to them.
- For formula requirements, do I need to cooperate with the laboratory?
After getting your own ideas according to the above steps, you can start to formulate your own formula requirements, for example: if you need to make cruelty-free skin care products, you must go to the relevant website to inquire about the cruelty-free ingredients and which ones cannot be added to your products, unless you make all your skin care products at home, these are all things to talk to your supplier. If you are inexperienced with these, it is recommended that you choose to cooperate with a good supplier or laboratory. Choosing a reputable manufacturer can reduce your stress and help you achieve your plan quickly.
- Types of skin care product suppliers that can meet our needs.
Just like food, starting the skin care industry also has certain risks (products may cause potential harm to the human body), and if you do not understand preservatives, allergens, shelf life, and storage methods, it is likely to have adverse effects on users. Therefore, choosing an excellent manufacturer can not only quickly manufacture compliant high-quality products according to FDA standards, but also their industry experience can help you avoid some risks.
Now we can find many companies on the Internet to help us produce skin care products. It is a very good choice to find a partner in China. They can provide different types of solutions and can suit a variety of purchasing needs. In China, you can find different types of partners such as:
*Small batch OEM supplier
*Agent products from brand companies
*Companies with custom skin care products
*Skin care products factory
*Do Drop shipping for direct resale
In Part two, we will share with you how we should look for the best private label skincare manufacturers.
1 commento
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