Abstract:

The beauty industry is on a strong growth trajectory. Definitions of beauty are changing, the value of sustainability and the importance of self-care are growing and the role of influencers is evolving. The industry's growth is further fuelled by advances in sophisticated online offers, social selling and omni-channel purchase behaviour, shaped by the COVID-19 pandemic (McKinsey, 2023). Against this backdrop, we see innovations across the marketing mix disrupting the beauty industry, leaving traditional retailers vulnerable to share losses if they do not innovate fast enough with smart omni-channel offers for beauty. Being a leader in retail innovation, Woolworths has had a strong focus on creating omni-channel experiences over the last few years.