Latest digital innovations coupled with newer trends have tremendously expanded the beauty business across cities in India. With an increase in disposable income, high internet penetration across towns and cities and a desire for world-class products and evolving lifestyles have exponentially increased buyer aspirations in tier II and III cities in India.
For technology platforms and brands in the business, this presents an opportunity to cater to the demands of consumers, create higher beauty penetration and increase access to products for buyers across the country. An indication of this increasing demand was reflected in Myntra’s flagship event, the 16th edition of the End of Reason Sale (EORS), held this year. As one of the largest fashion carnivals in the country, the online event featured over 1100 beauty brands with more than 53,000 products for consumers.
“We have seen the market grow both from a consumers’ and sellers’ standpoint. Our selection of beauty and personal care offerings has grown by 2x over our last edition of EORS. Our vision is to democratise fashion through technology. Fashion and beauty really go well together, and we have been able to extend our vision and have been working towards democratising beauty through technology,” says Nandita Sinha, CEO, Myntra.
The beauty vertical has witnessed significant growth over the past year and the ecommerce platform anticipates a steady uptick in the upcoming quarters. Sought after brands such as L’Oréal India, have been one of the major contributors to this success. “Myntra and L’Oréal India’s partnership is like two powerhouses coming together to develop the beauty penetration in India. The brand has grown 15x in our four-year long association. The best of that association actually comes into focus during EORS,” shares Nandita.
With 15 editions of EORS under their belt, Myntra, which holistically understands the market requirements, enables brands like L’Oréal India to create the best offerings for their customers, thereby strengthening its mutual ambition of demonstrating beauty through technology and making it accessible for all.
“One of the key priorities for L’Oréal India is to grow beauty penetration in the country. Our online segment has grown in the last three-four years and Myntra’s large base of premium consumers with high affinity to beauty is helping us develop our footprint further,” adds Pankaj Sharma, Director – Consumer Products Division, L’Oréal India
Powering the beauty tech segment
L’Oréal India’s growth on Myntra has not been limited to the metros. Almost 50 percent of its business on Myntra today comes from tier II and III cities. As the data suggests, Bhatinda has witnessed a surge in terms of demand and consumption, making it among the top five regions that contribute to L’Oréal India’s growth on Myntra.
Myntra’s social commerce propositions such as M-live and Myntra Studio have enabled brands to create high engagement and excitement among their customers. Additionally, these initiatives also help in creating awareness and educating customers about beauty and fashion trends, style hacks, size and fit recommendations, and more. During the pandemic, these propositions saw a higher stickiness when consumers shifted from buying single products to trying out and spending on entire looks.
“M-Live hosts a large number of beauty sessions with leading influencers and L’Oréal India has been one of the first partners in the beauty space to actually pilot that with us. Today that partnership continues with Maybelline New York and L’Oréal Paris (From the house of L’Oréal India) participating in our brand-led lives during EORS,” says Nandita, adding that Maybelline New York and L’Oréal Paris are in the top five most searched beauty brands on Myntra and Maybelline New York Fit Me Matte + Poreless Liquid Foundation is Maybelline’s top-selling product on the platform.
“Due to the pandemic, there has been a shift towards online consumption. For example, on Myntra, we have grown 2x in the last one year of our business, doubling our consumer base. Additionally, the content to commerce approach such as M-Live creates elements like educational nudges and expert advice to the customers,” adds Pankaj highlighting that influencer marketing has increased online engagement and consumption of brands.
Future beauty trends
Myntra is looking to build a deeper connection with its customers on aspects such as science-led beauty and they are leaning on brands like L’Oréal India to help build the conversation for its Gen Z and evolved consumers. “We believe that almost 40 percent of our new customer growth will happen through Gen Z consumers. Maybelline New York from the House of L’Oréal India is a brand which actually speaks to that consumer in a very vibrant and contemporary way. So, whether it is building eye makeup as a category or moving away from just kajal and also looking into mascara and brow makeup, etc. is something that we work closely with partners like L’Oréal India,” remarks Nandita.
For L’Oréal India, the association with Myntra also means to understand and invest in creating superlative customer experiences using technology. Pankaj said, “So far, we have collaborated with Myntra on many consumer activations like ‘wakeup-makeup’, ‘press play with Maybelline New York’ and ‘Insta weddings with Maybelline New York’ and hope to continue leveraging the platform’s tech to penetrate into deeper markets to offer customers a wide product portfolio that caters to their varied beauty aspirations.”
