Singapore cosmetics startup BeautyFresh is eyeing the eCommerce potential in its home market and broader Asia.
Stocking more than 70 international brands including Chanel, Dior, Jo Malone and Nars, the company ensures authenticity of its products by scanning them with ultraviolet light to check for defects. Employees also check to ensure products are not near expiry dates.
Director Jack Wong has a background in online security, so is using his expertise to ensure that client data is secure. The web developments and encryption of the BeautyFresh site are similar to those of online banking (signified by a green lock in the URL).
Meanwhile, market research firm Mintel says that a growing number of Chinese consumers are going online to buy international beauty products.
Its research shows that 58 per cent of Chinese consumers bought foreign products online from a domestic shopping website in the six months to the end of November last year. The top three countries buying beauty products were South Korea (47 per cent), Japan (29 per cent) and France (27 per cent).
According to the report, cross-border eCommerce grew more than digital retail generally last year, a trend that is expected to continue.
While cross-border eCommerce is increasingly competitive and provides great sales opportunities, the report warns that brands need to be increasingly responsive to consumer demand.
Quality of products (63 per cent) and prices (38 per cent) are the top concerns for Chinese online buyers.
BeautyFresh offers free delivery on orders worth US$40 or more, and offers a 30-day money back guarantee.