According to an analysis by TD Cowen, TikTok is projected to reach 4% of beauty market share in 2030, up from 2% today, while Amazon is forecast to hit 15%, up from 9% today. Ulta is predicted to slide from 10% to 9% and Sephora remain steady at 7%. The market research firm NIQ estimates 43% of beauty purchases are conducted online—and that figure is only expected to grow.

Amid the evolution Nuñez describes as pushing beauty from “shelf space” to “scroll space,” she advises brands to have a “platform strategy—not just a retail one.” She details a platform strategy involves owning the creator economy funnel and understanding the channel that drives the best customers.

Nuñez emphasizes that Amazon shouldn’t be discounted in the long-term channel mix even as Sephora tries to limit brands’ distribution on it and TikTok. For brands aiming at Sephora placement, she counsels, “Consider launch timing, exclusivity windows, and what your long-term omnichannel roadmap looks like—before you sign the dotted line.”

Diving more into how brands should craft a platform strategy, for this edition of our ongoing series posing questions relevant to indie beauty, we are asking 12 beauty entrepreneurs, consultants and investors the following: How can an emerging prestige brand successfully execute a platform strategy today? What are the main challenges you see for developing these strategies today, and how can brands sort through them?