Image courtesy of Feelunique
Feelunique saw its market grow rapidly during the Covid-19 pandemic. Marketplace sales of its retail website grew 695% in its most recent fiscal year, through March 29, as shoppers opted to buy more beauty products online – treatments “at home” to skin care regimens – online. At this point, more than 800 brands were selling 12,000 products in the market and by the end of the year those sales represented 2% of the annual turnover of £ 103.5million. Feelunique says the wider choice of brands and products has helped it thrive in an era when shoppers were more interested in taking care of their skin or performing their own treatments.
Ting-Ting Lee, Head of Marketplace Feelunique, says having a marketplace helps the company expand its range. This means that it can expand existing categories and also try new categories and brands more easily. “We launched sportswear for the first time this year, which is not a basic category for us,” says Lee. “But having the market allowed us to launch it and try it out as a new category. “
Such steps help it to bring more traffic and more customers to the website. In its last full year, the number of active customers on the Feelunique site increased by 42% to 1.3 million, and its total customer database grew to 6 million. This, in turn, means more attention for the brands that sell on it.
“There are new independent brands out there that don’t necessarily have the same brand awareness yet, but Feelunique is able to give them a platform to market themselves to – and to benefit from the traffic we have as well as a reputable retailer. very established. Lee said. She adds: “It’s extremely difficult [for new brands] even opening a conversation with many retailers is a hard space to get. I have had wonderful feedback from amazing brand partners, I am just extremely grateful that we recognize these brands and give them the opportunity.
Stand out in a marketplace
Participating in the platform’s activities can help brands gain exposure on a site that features more than 800 brands. This includes getting involved in the Feelunique community, where buyers can ask questions about brands on sale, and in social and marketing activities, from Q&A to hands-on courses. This, says Lee, means “there is an opportunity to really talk to the customer, to engage and to understand what they are looking for.” full-size product – allows shoppers to find and try out a brand before committing to a purchase, by making more confident about their investment.
“We’re doing a lot of development to really help this customer journey and help customers buy the improved line that we have,” said Lee. “As a retailer, we go to great lengths to help customers navigate this line and help them find the right products for them. “
Feelunique asks brands using the market to list their entire lineup, allowing Feelunique to become a destination for the brand, while also having service level agreements governing areas such as delivery policies.
For the future, Feelunique sees the market as a way to help it grow abroad. “I think the marketplace will continue to evolve and will seek to further expand our offering, ”said Lee. “We’ll be looking to use that, I think, to strengthen our international presence because I think it’s a great platform for us to do that. This is fully in line with our strategy to expand our offer for the customer, but also to optimize this customer experience throughout the development of our site.
This article first appeared in the RetailX Brands and Marketplaces 2021 report. Download the report here to explore further,