Do You Have a Strategy For Your New Product Pipeline?
Do you know what types of products are trending in eCommerce? These insights can enable you to build a smarter new product roadmap.
March 26, 2021 - By HINGE COMMERCE
We all know that eCommerce adoption has accelerated since COVID, but do you know which cosmetic category has grown the fastest? The answer may surprise you! Lip Color has surpassed Mascara as the fastest growing cosmetic on Amazon, almost quadrupling since the start of COVID (+384%). In fact, the growth rate of Lip Color is 10X higher than Amazon’s overall growth during this time.
Do you know what segment of Lip Color is driving the most growth? The answer is Lip Balms!
Mascara has historically been one of the largest cosmetic categories on Amazon. It’s still a significant category (having only just been surpassed by Lip Color). But do you know what type of Mascara feature or functional benefit drives the highest average sales per SKU? The answer is Mascara Primer!
HINGE COMMERCE has access to insights like these for any category sold on Amazon, across any geography. We can provide a detailed market assessment of any category on Amazon – who are the key brands, what are the average price points, and which sub-segments drive the most sales. By leveraging data like this, you can build your new product strategy, plan your catalog assortment, and grow sales vs. competition.
Reach out to us to learn more about how we can help maximize your eCommerce sales on Amazon and other online marketplaces. HINGE also has a unique relationship with Target+. If you qualify, we may even buy your inventory and enable you to sell on Target+ (an invite-only marketplace). Read the testimonial and case study from e.l.f Cosmetics to see how we helped grow their business!