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September 17, 2020

Digitalization in the cosmetics industry

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Where are we now? Where are we going? Where does ozmi fit in?

Digitalization is an inevitable step in the evolution of each company and service available today in the global market. Its advantages to suppliers and consumers are just too great to avoid; if an industry has not yet been overhauled by digital transformation, it's a matter of time.

In 2020, with the COVID-19 pandemic, we've seen this transformation go into overdrive. Many people are working from home. Face-to-face meetings are now conducted over online conference tools like Zoom or Google Meet. Conferences like Cosmetic360 have given way to virtual trade shows; companies in all sectors have dedicated COVID-19 information sections on their websites. 

For B2C, online rules; for B2B, it's still untapped

Even in our personal lives, events like birthday parties, wedding receptions and concerts have moved online. When this is over and we're back to the new normal, some of these new habits are likely to stay. In short, digital communication has revamped our lives top to bottom, and there's no going back.

In the B2C segment, most of our needs can be met with digital services. Digital platforms and tools like Lieferando, airbnb, Amazon, and Uber have changed business fundamentally. It doesn't stop there, of course. Bills, shopping, banking ... it's all digital now. And this shift is only going to continue.

But that's on the business-to-consumer side. Business-to-business is a mixed bag. Yes, companies use many of these same tools to get their business done, but the potential for digital transformation is still huge.

Digitalization in the cosmetics industry

This transformation is already well underway in plenty of industries and whole segments of the economy. In some ways, this also includes the cosmetics industry. Like individuals and businesses in other sectors, cosmetics businesses use online tools for general business functions.

But core industry-specific practices have been slower to change. This isn't unique to cosmetics. In the B2B sphere, many sectors have not yet fully embraced digitalization. Business relationships are still largely formed in meetings at trade shows and conferences. Supplier comparison is often a manual process. Procurers have to contact individual companies one by one and gather data themselves. Then there are the regulatory, testing, packaging and distribution steps. The ozmi™ team has had many conversations with creators about how much time these take and how much more efficient they could be with digital tools and platforms. We're surprised by how manual most of these processes still are.

In short, in the cosmetics industry, it is time for improvement.

Digital transformation has enormous potential to save creators and suppliers time and money. By bringing the whole process under one big online roof, ozmi is making it much simpler, faster, less tedious and more delightful to bring a cosmetics product from the idea stage to the store shelf.

Digital transformation isn't only about, say, shifting orders online. At ozmi, we have more fundamental shifts in mind. On our digital platform, brand owners will be able to build relationships, source ingredients, arrange testing, finalize packaging and find other important solutions all the way to product launch. 

For example: rather than spending hours manually comparing suppliers for the best value or tracking down service providers with enough capacity to handle your project, with ozmi, this information is available instantly, and you can take the transaction from query to delivery using our platform. 

Solution providers will benefit from smart lead generation and sales support. There will be better communication, excellent transparency and easy project tracking for all.

The whole creation process is here at ozmi

And that's just one piece of the workflow. We aim to bring this simplicity to the whole cosmetics-creation process. In mid-2020, ozmi will begin to make the cosmetics-creation process better, simpler, more delightful. And we won't stop there. New features are in continuous development, and they'll be implemented when they're ready. We won't stop thinking of ways to help beauty brands and solution providers grow their business.

Do you want to learn more about how to make digital transformation work for your business? Read about how ozmi can save time, or an interview with a formulator about the importance of information sharing and trustworthy business-partner matching. 

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