As e-commerce grows, so does the need for brands presence across a number of marketplaces. And beauty brands are no exception.
In terms of reshaping how consumers approach wellness and beauty shopping, Amazon stands out as a notable platform.
As per a 2023 Statista report, it’s predicted that Amazon will account for almost 41% of all retail e-commerce sales in the US by 2024, marking an increase of 1.2 percentage points from 2023. Of particular interest to beauty and wellness brands is the health and personal care category – the third largest segment on Amazon’s platform – which is projected to expand by 1.5 percentage points to approximately 35% in the following year.
Brand Presence Across Multiple Marketplaces
Although Amazon is among the most prominent e-commerce platforms for brands, it remains essential for them to establish a presence on additional marketplaces like Flipkart. By doing so, beauty brands can broaden their target audience, amplify revenue generation, and improve brand presence.
Consequently, diversifying platform distribution proves advantageous for enhancing overall brand competitiveness.
Nevertheless, this approach presents certain difficulties as well.
Some of the challenges brands face in terms of brand presence include:
- Time-intensive management of multiple listings
- High costs associated with maintaining a presence across several platforms
- Inconsistent pricing by sellers due to lack of centralized control
- Difficulty in tracking inventory and ensuring accurate product availability
- Managing reviews or feedback from customers who have had different experiences on different platforms
But, more than being present on these marketplaces, the share of search of each brand is what having a good brand presence is all about!
Let’s look at some of the beauty brands like Plum, Biotique, Mamaearth, Lakme, etc., and their brand presence on marketplaces like Amazon and Flipkart based on their Share of Search percentage:
What is Share of Search (SoS) and why does it matter?
Share of Search (SoS) refers to the percentage of total searches conducted online for a particular category or keyword that a specific brand captures. It serves as an indicator of consumer interest and intent towards a brand within its respective industry, in this case, makeup brands, with Mamaearth leading on Amazon and Pilgrim on Flipkart.
Keeping a regular watch on SoS enables companies to detect potential growth areas, keep tabs on competitors’ progress, and fine-tune marketing approaches based on these findings. As compared to conventional metrics like share of voice or market share, which typically depend on past information and might not precisely represent current fluctuations in consumer desire, SoS has recently gained traction owing to its accuracy in depicting real-time changes.
Conclusion
Expanding brand presence beyond just Amazon and exploring other e-commerce marketplaces like Flipkart offers immense benefits for beauty brands looking to widen their customer base, boost revenue, and enhance visibility.
While managing multiple listings comes with inherent challenges, keeping track of your Share of Search (SoS) ensures a robust brand presence. Stay updated on consumer interest and intent, monitor competitors, and refine marketing tactics using SoS – a key metric that truly reflects the effectiveness of your multiplatform strategy.
