Are your retail products not moving off the shelves as fast as you hoped? The quality of your inventory may be to blame. We’ve compiled some of the hottest consumer trends in beauty and wellness retail to help you revamp your inventory and start boosting sales.
Product Attributes That Are Important to Buyers
Wondering what types of products consumers are looking for? Here are some statistics to help you determine what types of new products to introduce to your inventory:
Organic, Natural, Eco-Friendly, and Cruelty-Free
Almost half of consumers who buy eco-friendly products say their primary concern is purchasing products that are cruelty-free and not tested on animals.
Families Want Low-Eco Footprint. 64% of American families also prioritize organic, natural, and eco-friendly products when making buying decisions.
A Majority of Younger Generations Already Buy Organic. 83% of Gen Z already buy organic or natural beauty products and look for free-from claims, not tested on animals, botanically derived ingredients and water-efficient.
Ingredients are Key
Ingredients are often buzzwords that can motivate your clients to buy. Here are trending ingredients that consumers are looking for in their products:
- Apple Cider Vinegar
- Manuka Honey
Healthy Skin and Hair
Focus on All-Encompassing Anti-Aging. 56% of consumers agree that it’s important to look youthful and 44% want anti-aging benefits in their skincare.
Find the best performing shampoos and conditioners. 50% of women look for shampoo products that help achieve healthy-looking hair and 41% of women try to use as few products on their hair as possible.
Offer product samples. 66% of Millennial women agreed that product samples would help them choose one business over another.
Host an event and educate clients on new product lines. 69% say they sometimes feel overwhelmed by the number of options available. In-store sampling, demonstrations, and other events can help your clients navigate the variety of products, colors, and formats and better understand what works best for them.
The seasons, community trends, and upcoming events can have a huge impact on your product sales. Studies show that products that are only offered for a limited time create urgency for clients to buy. Put yourself in your clients’ shoes to pick seasonal products that may give them the extra push to buy. For example, with Halloween right around the corner, consider items that can enhance a client’s costume such as glitter spray, lashes, bright lip colors, etc.
Earn Your Inventory Certification
Inventory can be one of the most challenging areas for any business. Proper inventory management is necessary to stay organized and on track for overall success. How do you know what to order, if you cannot track the preferences of your client base? How do you stay on top of theft, if you don’t have an accurate picture of what is sitting on your shelves?
Through the Inventory Certification program at The Millennium Experience 2018, you will receive formal training on utilization of the software and industry best practices and learn:
- How to set up and organize your products for the best success
- How to properly evaluate stock level numbers for profitable retail sales
- How to count, manage, and order your inventory to best suite your business model
Assess your current inventory processes and create an action plan for getting your business’ inventory under control, all without a headache, and so much more at the educational event of the year. Sign up for certifications and register here.