Modern life entails an increasing need for beauty. Regardless of the rich or poor life, there are always a few different types of cosmetics in the bedroom of women, serving the beauty and right of women to be beautiful.
When cosmetics become an essential item, cosmetic business opportunities will be even more open to international brands who have dreams of starting a rich business in Vietnam. However, to become a successful cosmetic business in Vietnam, brands need to prepare a lot of things. In this article, GMA will share with you a few cosmetic business experiences, suitable for even those of you who are selling cosmetics online or opening a small cosmetic store.
I. VIETNAM- A GROWING MARKET FOR COSMETICS
The revenue from beauty and personal care sales in Vietnam has been increasing steadily, with a remarkable $2.63 billion generated solely in 2022. This market is projected to reach an astounding $3.86 billion by 2026, with an estimated compound annual growth rate (CAGR) of 10.07%.
Vietnam, recognized as one of the leading emerging economies globally, is attracting attention due to its substantial potential for growth in consumption, development, and business investments in the beauty industry.
II. UNDERSTAND THE TARGET MARKET -UNDERSTAND YOUR CUSTOMERS
Before entering the Vietnamese market and selling makeup products to local customers, it is crucial to conduct thorough research on the beauty market in Vietnam. This preparatory step is fundamental for establishing a successful business strategy and enables the identification of potential opportunities and challenges that may arise in the process.
1. Demographics
Gain insights into the demographics of your target audience, such as age, gender, income level, and geographic location. This information helps you tailor your marketing messages and product offerings to suit their specific needs and preferences.
2. Cultural Factors
Vietnamese culture plays a significant role in shaping beauty preferences. Understand the cultural norms, values, and traditions that influence beauty ideals and practices in Vietnam. For example, Vietnamese consumers have a strong appreciation for natural beauty and tend to favor subtle makeup looks that enhance their features rather than heavily transformative styles.
3. Local Trends
Stay updated on the latest makeup trends in Vietnam. This includes popular styles, colors, and techniques that resonate with the local audience. Follow Vietnamese beauty influencers, magazines, and online communities to stay in touch with evolving preferences and trends.
II. LOCALIZE YOUR BRAND – THE KEY TO DRIVING GROWTH
The purchasing behavior of Vietnamese consumers when it comes to makeup products is influenced by several factors. Here are some key insights into the purchasing behavior of Vietnamese consumers
1. Price Sensitivity
Vietnamese consumers are generally price-conscious when it comes to purchasing makeup products. They tend to compare prices and look for affordable options without compromising quality. Discounts, promotions, and value-for-money offers are effective in attracting their attention.
2. Product Quality & Ingredients
Vietnamese consumers value product quality and are becoming more conscious of the ingredients used in makeup products. They prefer products that are safe, gentle on the skin, and provide long-lasting results.
Brands that prioritize transparency and highlight the quality of their ingredients are likely to attract Vietnamese consumers
3. Product Adaptation
Adapt your product offerings to suit the needs and preferences of Vietnamese consumers. Consider factors such as climate, skin tones, and common beauty concerns in Vietnam. Develop shades, formulas, and textures that cater to the local market, and highlight any unique features or benefits that align with Vietnamese beauty ideals.
By following these steps, you can effectively localize your makeup brand in Vietnam, ensuring that it resonates with the local culture, connects with consumers, and drives success in the market.
III. BUILD AN ONLINE PRESENCE – “CATCH” CUSTOMERS FROM EVERY TOUCHPOINT
1. Create A Vietnamese Website
Develop a dedicated website for the Vietnamese market.
Ensure that it is translated into Vietnamese and optimized for local search engines. Include detailed product information, an easy-to-navigate interface, and localized content that resonates with Vietnamese consumers.
Provide clear calls to action, such as links to purchase products or sign up for newsletters.
2. Leverage Social Media Platforms
Vietnamese consumers are highly active on social media platforms. Establish a presence on popular platforms like Zalo, Facebook, Instagram, and TikTok.
Create engaging and visually appealing content that showcases your products, offers beauty tips, and shares user-generated content.
Regularly interact with your followers, respond to comments and messages, and leverage social media features like stories, live videos, and polls to increase engagement.
3. Provide Online Shopping Options
Make it convenient for Vietnamese consumers to purchase your products online. Offer a secure and user-friendly e-commerce platform on your website or partner with established Vietnamese online marketplaces.
Provide multiple payment options and ensure a smooth checkout process.
IV. COLLABORATE WITH INFLUENCERS- A POWERFUL STRATEGY
Influencer marketing is highly effective in Vietnam. Partner with local beauty influencers who have a significant following and credibility in the makeup industry.
Collaborate on product reviews, tutorials, or sponsored content to reach a wider audience and build trust in your brand.
Changmakeup, a popular Vietnamese beauty influencer known for her expertise in makeup tutorials and product reviews, presents an exciting collaboration opportunity for your makeup brand in Vietnam. With a strong following and engagement from Vietnamese beauty enthusiasts, partnering with Changmakeup can significantly boost your brand’s visibility and credibility.
V. ENGAGE IN COMMUNITY EVENTS
Participate in local beauty events, trade shows, and exhibitions to showcase your brand and products.
Offer product demonstrations, free makeovers, or consultations to create a memorable experience for attendees. For example, Saigon Beauty Show 2023 is a professional playground for beauty product and service business units to have the opportunity to introduce and promote their products, brand PR closer to potential customers, create a premise to boost sales, and promote trade. In addition, the event also provides businesses and exhibitors with an in-depth forum to help improve the quality of the beauty industry with B2B Trade.
This helps to build brand awareness and establish personal connections with potential customers.
VI. OFFER PERSONALIZED EXPERIENCES
Vietnamese consumers appreciate personalized experiences.
Consider providing personalized recommendations, consultations, or makeup tutorials to help customers find the right products for their needs.
This can be done through in-store experiences or online platforms.
VII. LEVERAGE ONLINE ADVERTISING
1. Choose The Right Advertising Platform
Select the online advertising platforms that align with your target audience and advertising goals. Popular platforms for makeup brands include Google Ads, social media platforms like Facebook Ads and Instagram Ads, as well as beauty-focused websites or blogs that offer advertising space.
2. Create Compelling Ad Creative
Develop eye-catching and engaging ad creative that highlights the unique features and benefits of your makeup products. Use high-quality images or videos that showcase the application, colors, and results of your products. Incorporate persuasive copy that communicates the value proposition and encourages viewers to take action, such as visiting your website or making a purchase.
3. Test and Iterate
Continuously test and refine your online advertising strategies. Experiment with different ad formats, platforms, targeting options, and messaging to find the most effective combination for your makeup brand. Stay updated on industry trends and leverage data-driven insights to stay ahead of the competition.
VIII. AFTER-SALE SUPPORT
- Focus on building long-term relationships with your customers.
- Collect customer data, such as email addresses, to nurture ongoing communication and send targeted newsletters or promotional offers.
By placing customer satisfaction as a top priority and implementing continuous marketing strategies, you can cultivate enduring partnerships with importers and capitalize on the opportunities for your makeup brand.
To provide excellent after-sales support, it is crucial to extend assistance and resources beyond the initial transaction. This entails offering ongoing support to importers to ensure they have the necessary tools and knowledge to effectively promote and sell your makeup products. One way to achieve this is by organizing comprehensive product training sessions for importers’ sales teams. These sessions aim to educate them about the distinctive qualities, application techniques, and potential combinations of your products. Equipping them with this knowledge enables them to confidently communicate the value and allure of your beauty products to the Vietnamese customer base.
IN CONCLUSION
To summarize, successfully selling makeup products to Vietnamese importers necessitates a customized and well-informed approach that considers market preferences and regulations. It is essential to stay informed about market trends, adhere to import regulations, and provide consistent support to importers. By adopting a dedicated and strategic mindset, beauty importers can flourish in the Vietnamese market and take advantage of the growing demand for makeup products. By following the steps outlined and continually adapting to the market, makeup brands can unlock the potential of Vietnam as a lucrative and sustainable market for their products.
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