The beauty sector is without a doubt one of the most recession-proof industries. The beauty & cosmetics sector has witnessed tremendous growth and revenue generation during the previous two decades. To clarify, when it comes to customer preferences and the availability of products over the Online Store App, this industry is quite dynamic. The seasons may change, however, the desire for cosmetic products does not.
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Nykaa- A name that becomes a leader in the beauty and cosmetic product industry! Most importantly, this organization ensures that its persona comes in all aspects of marketing. Therefore, it is also known as one of the successful instances of e-Commerce app development solutions due to its unique and user-friendly characteristics, which is the reason for its continued success and expansion.
In this article, we will discuss how you may imitate the success of this beauty platform? as well as the characteristics that distinguish Nykaa and how you can develop a successful Online Store App.
How did It begin?
The Nykaa founder, Falguni Nayar had the idea to build an Online Store App for cosmetic items after visiting a Sephora, she had a great user experience as the staff over there provided the specific product of her choices and above all explained to her how to apply the products.
After that, she realized that the Indian market need a beauty brand, this idea gave birth to Nykaa in 2012.
To sum up, the brand was successful in targeting the proper market.
Nykaa`s Journey So Far
- Falguni Nayar, the founder, launched this eCommerce app for beauty and fashion in 2012.
- In 2015, Nykaa launched a range of its in-house cosmetic products.
- Nykaa acquired an omnichannel presence in the same year with the opening of its first physical store.
- In 2018, Nykaa Man and Nykaa Fashion are two new verticals that were introduced by Nykaa.
- The e-Commerce company launched its first celebrity collaboration brand with Kay Beauty and acquired 20dresses.com in 2019.
- The very next year, the Nykaa received 100 crores in funding from Steadview Capital.
- Nykaa Fashion successfully bought the Indian fashion jewelry business Pipa Bella in 2021.
Similarly, as of 2021, Nykaa has effectively created a loyal customer base with 77 percent repeat customers on monthly basis and it is one of the most successful e-commerce applications which is delivering many services.
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Market Size & Statics
These data clearly show that on-demand solutions for the beauty business are in high demand right now. In short, this is the appropriate market to invest in right now.
During the pandemic, the worldwide cosmetic market increased by 7% compared to 2019, with fragrances, hair care, deodorants, make-up, toiletries, and oral cosmetics dominating. Therefore, skincare is the most profitable area of the industry, with an expected 171 billion USD in revenue in 2025.
If you want to develop a beauty app, hiring an e-commerce app development company would be your best bet at the expertise you will have in creating a quality and strong app.
How Does Cosmetic Store App Work?
Nykaa has an inventory-based business strategy, allowing the brand to assure the availability of high-quality, authentic items to its customers.
Nykaa buys items directly from manufacturers or companies and sells them through its Website and eCommerce Online Store App. Further, it allows Nykaa to establish client confidence, resulting in more sales from returning customers.
Moreover, Nykaa products are then housed in the company warehouses in Mumbai, New Delhi, and Bangalore.
Therefore, Nykaa customers may place orders using its website, eCommerce app, or physical shops. The inventory-based business model of Nykaa provides for large profit margins for online retailers.
Why Cosmetic Mobile App is Popular?
Nykaa offers authentic items at reasonable prices. Certainly, its attractive value propositions distinguish it from competing for eCommerce applications, such as:
- Wide range of products: Nykaa provides a diverse range of items, ranging from in-house Indian brands to premium and luxury international names. In this manner, it appeals to a wide range of audiences.
- Friendly UX/UI: The app offers a user-friendly app interface that allows users to effortlessly navigate its app and website. It is simple to locate the things that app users are seeking, and it improves the user experience.
- Shipping Tracking: The app allows its customers to track their shipments from within the app, which is a feature that many of them appreciate.
- Easy Product Return & Refund: It is common for customers to be dissatisfied with a purchase. thus, the app provides repaid after the product reaches the warehouse and has been examined.
- COD Option: The app provides a variety of payment options, but the most popular is the Cash-on-delivery option, which certainly allows consumers to make a payment only after they have received the product.
- Tempting Referral Programs: Nykaa provides enticing referral programs, which have assisted the company in creating a loyal customer base.
- Beauty Blogs & Guides: It is very uncommon for a client to be interested in purchasing a beauty or skincare product but lack an understanding of how to apply it. To overcome this conundrum, Nykaa provides beauty instructions and blogs that explain how to use the products.
Top Features to Consider to Develop An Online Store App Like Nykaa:
- Social Sign in/Signup: Integrating a cosmetic eCommerce app with various social media networks might be beneficial in terms of improving consumer engagement. Users may start using the app using their social media platforms.
- Push Notification: This is a feature that allows app users to receive alerts and notifications about their shipping, purchase confirmation, or other helpful information.
- Product Recommendation: It is beneficial for a Cosmetic Online Store App to provide expert beauty advice and product suggestions to its consumers, as this type of customized service appeals to them.
- Voice Assistance: This feature eliminates the need for customers to type in their requirements by allowing them to search for items or services using only their voice.
- Multiple Payment Options: Users can pay from multiple payment options whichever is convenient for them.
- Video Shopping: This video internet shopping option allows consumers to see how a product appears on them in real-time while employing virtual help.
- Loyalty Program: Through awards and discounts, the loyalty program guarantees that app users remain loyal to the Cosmetics Online Store App. This is a wonderful method to keep customers connected to the app by allowing them to track their cashback a
Required Tech Stack:
It is recommended that you hire an e-Commerce app development company that excels at developing high-performing Online Store apps for a variety of genres. Look for a reputable company with a strong app development team that includes:
- Project manager
- Android/iOS Developers
- Back-end Developers
- UX/UI Designers
- Quality Analysts
- Delivery Manager
Inspired by Nykaa’s extraordinary journey? You may develop your own Nykaa version.
In conclusion, the platform is working on several major projects to make a difference in the beauty and fashion industry.
The platform has a lot of room to expand and gain a stronger position in the future.
If you are looking to develop a high-performing on-demand Online Store app like Nykaa, then iByte would be the right choice for your business. Get free assistance from our e-Commerce app development experts.