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Beauty and the BRICs
Thanks to continuous economic growth and increasing spending power of the population, BRIC countries (Brazil, Russia, India and China) have become important players in the beauty and personal care1 industry. Accounting for over 20% of the markets world value, they are one of the strongest drivers of its growth and slowly they are also becoming global trend setters. Products like BB creams, which originated from Asia, but managed to conquer developed markets, are a good example.
This trend is bound to last as, despite a temporary slowdown, the BRICs will continue to develop thanks to events like the 2014 World Cup and the 2016 Olympics in Brazil or the 2014 Winter Olympics in Russia. Therefore let us have a closer look at the beauty and personal care market in these countries and try to understand their dynamics by focusing on women aged 18-552.
continued > > > Author: TGI France Brand Owners Team
1 Source: BRIC: Continued Domination of Global Beauty Sales by Carrie Lennard, Euromonitor International Jul 2011
Global TGI helps marketers to expand markets, launch new products, respond to competitive threats, and plan communications. We do this by providing a unique 360 understanding of consumer attitudes and behavior with the depth provided from 700,000 personal interviews conducted annually across 60+ countries. Typical client engagements can involve market sizing, segmenting, trending, and linking with YOUR survey data. With insights drawn from the largest network of single-source consumer surveys in the world, marketers can be confident that key decisions are based on actionable, robust, reliable and high-quality research. Visit www.globaltgi.com or email enquiries@globaltgi.com to find out more.
2 Source : TGI Russia, Brazil, China and India 2011 data bases
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In India most beauty and personal care segments still have relatively low penetration levels compared to other BRICs, indicating huge future growth potential as the population evolves and a middle social class emerges. Like in China, skin whitening products prove popular reaching 68% of Indian women. The most mature and highly penetrated segment is makeup used by 83% of women aged 18-55 years old. Within makeup, nail polish/varnish and lipsticks are the biggest segments used by 70% and 59% of women respectively. Unlike in the other BRICs, Makeup products in India are equally used by all age groups, including older women. Indian females declare trying to keep up with the latest fashion trends (51%) and being influenced by celebrities in their purchase decisions (49%). On the other hand it seems that they are much less concerned by keeping a young look than the other nationalities.
4 Regular use at least twice a week. Please note that in 2009 we asked about use in the past 6 months, while in 2011 we asked about use in the past 3 months.
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