Adore Beauty are moving into the physical retail world because of the growing importance of a multi-channel approach.
👉 Background: Adore Beauty is the e-commerce retailer that launched back in 1999, and has grown its product list to over 11,000 beauty-care products. It listed on the ASX in 2020, but its current share price is about one-fifth of its listing price during COVID.
👉 What happened: Adore Beauty has announced a 7% gain in their full-year revenue to over $195 million and net profit jumped 489% to $2.2 million dollars.
👉 What else: Currently, it has over 800,000 active customers and pushed a big above-the-line marketing campaign. But now, it's going one one notch higher and opening physical stores in Victoria and Queensland.
💡Traditionally, we've seen physical retailers expand into the online space to reach more customers — but now, the reverse is starting to happen.
💡E-commerce retailers like Adore Beauty are moving into the physical retail world because of the growing importance of a multi-channel approach. This approach has been popular with online luggage retailer, July as well as online travel agent Luxury Escapes.
💡While online shopping offers convenience and reach, physical stores provide an opportunity for customers to interact with products and services in a more tangible way...which is particularly valuable in industries like beauty.
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