The beauty industry has brought $483B in 2020, $511B in 2021 and the annual growth rate is 4.75% worldwide. We have witnessed a huge expansion in the last couple of years mainly because of the digitalisation and the willingness of the customers to pay more for better quality. The two biggest markets are Asia Pacific and North America and they are still dominating on the world scene. They are accounting for more than 60% of the total. Since the beauty industry is growing, there are more beauty businesses on the rise as well.
The digital age and beauty wholesale
If you are in the cosmetic business, especially if you are an owner of a cosmetics shop, salon or a supermarket that sells cosmetics, you would probably have to consider wholesale beauty supply. Online presence of businesses nowadays is a must and also finding your wholesale suppliers comes mostly through the online platforms like for example BeautySourcing.
There is a wide range of products you can choose from online. With the commodity of online shopping, wholesale beauty supply is made even easier. Beauty products like make up brands, skin care, body care, make up tools are all accessible and easy to find. You need to know your area of interest and have some knowledge of the types of brands, their ethos, the quality of the products and how to negotiate a good price. The famous cosmetic brands lie Estee Lauder, L’Oreal, Mac, Smashbox, Elizabeth Arden etc. come with a higher price range, however when you are making a wholesale purchase through authorized wholesale suppliers you can negotiate a better price and then resell them according to your desired profit. In most cases, it is good to buy in bulks. This will give you the opportunity to buy good brand products by a wholesale price. In general, wholesale prices are much lower and give you the much-appreciated discounts.
Tips on how to buy wholesale cosmetics
- Always check your wholesalers online. Are they trustworthy? As we mentioned here above, if you find a B2B platform that connects the wholesalers with the businesses, this will save you the trouble of research because they will only have wholesalers who are safe to use.
- Start with small purchases and then build on it. If you are still new to the market, do lots of research and when you find some offer that sounds good, always check for all the necessary certificates and licences from the retailers. This will prevent you for entering an illegal field and will guarantee a much safer trade. It is also important to start small because if you are new to the wholesale beauty supply world, you will still need to experiment the right amount you will need to start with. And it will also save you a disappointment if the items don’t sell as much as you hoped they will.
- When you buy internationally, check the B2B platforms for that specific country where you would like to buy from and check the information about the newest events and beauty trade shows because these events are great for browsing and finding good wholesale suppliers.
- Remember, trade with respect and the respect will get back to you. This is a good business model because it is always good to establish good relationship with your business partners. It is a mutual exchange and it should be a satisfactory and pleasant experience for the both side involved in it.
Following these easy steps can guide you through in your journey to buy beauty products through wholesale suppliers. Even though it can be a bit overwhelming to learn how wholesales work, once you start you will build on experience, build your own trusted chain of supplier and hopefully soon find success in your business interactions.