Beauty buyers are increasingly embracing online options, with 40 percent opting to shop digitally, according to Kantar's Cosmetic Panel survey. Amidst this digital surge, traditional try-and-buy methods remain pivotal, as only 7 percent of consumers exclusively shop online, the report added.
The Cosmetic Panel, initiated in December 2022, serves as an ongoing monitoring system designed to unravel the ever-evolving shifts in consumer behavior within India's beauty sector. Filling the demand for reliable insights, the panel extensively observes and analyzes purchases across four major categories—face, eye, lips, and nails. This comprehensive study involves over 3000 women aged 18-44, encompassing NCCS A & B demographics in towns with populations exceeding 10 lakhs.
“Cosmetics are on a positive wave right now, and we are absolutely delighted to be able to track this wave with India's only robust Cosmetic Panel, using new-age technology. This will ensure that brands in the cosmetic category get real-time, accurate, and insightful data to inform their strategic decisions,” said K. Ramakrishnan, Managing Director- Worldpanel Division, South Asia at Kantar.
The report also provides insight that over the past ten months, 42 percent of women have acquired a face makeup product, amounting to expenditures totaling INR 1,120 crores (USD 136+ million).
The cosmetic industry in India is projected to grow at a Compound Annual Growth Rate (CAGR) of 6.7 percent in the coming five years, according to Euromonitor International. The driving forces behind this substantial growth include a growing middle class witnessing a rise in disposable income and an escalating awareness regarding skincare products.
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