(O) Men say no to body hair.
The attitude of men towards the purchase and consumption of cosmetic products have changed. This is an opportunity because it will give rise to a new consumer group for the cosmetic industry.
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(O) Application of anti-aging cream demonstrated improvement in depth of wrinkles. The positive feedback from the users reveals the usefulness and efficiency of the product. Thus they will continue to use products. SOCIO-CULTURAL
(T) Use of decamethylcyclopentasiloxane (DS) in personal care products such as skin creams, antiperspirants, and shampoos.. The chemical used in personal care products such as creams, shampoos, i.e. DS can pose danger to the marine environment.
(T) Average adult who uses nine personal care products daily, and is exposed to 126 chemicals. Survey supports this fact that 10,500 chemical ingredients used in personal care products, only 11% have been safety assessed. Therefore the use of cosmetics is a threat to the consumers.
(O) Sales of cosmetics and fragrances are forecast to increase by 16.5% between 2012 and 2016. This is a positive sign for the cosmetic industry, as the ever increasing buyers will help to boost the sales in future.
(O) Income level of female consumers is increasing their expenditure for cosmetic product is also increasing. Females are spending a large amount of their disposable income on the cosmetics. The direct relation between the income and consumption level of cosmetics will prove to be beneficial for the cosmetic industry.
(O) L’Oreal developed a gene-activating serum, “Genifique,” in 2009. One Genifique product is sold every four seconds. The cosmetic industry is focusing on new research and development. This proves that they understand market condition and tend to enhance effectiveness and technology.
(O) E-commerce of beauty products in Brazil increased 47% in the first half of 2011, logging more than half a million items sold.. Online purchase of cosmetics is an easy and convenient way to shop for the best products. It will provide an opportunity for growth in the sales of cosmetics. REGULATORY
(O) Implementation of new FDAregulations.
Page 2 Industry analysis of cosmetics Essay
The regulations ensure that the consumers are using a safe product. Testing of products increases the faith of the customer in the product. COMPETITON/ INDUSTRY
(O) New launches key to driving growth in cosmetics.
The new products of cosmetics seek the attention of the target groups, people tend to get attracted tothe latest colors and products which will help them look good.
(T) Natural and organic cosmetic sales are part of the fastest growing sector in the cosmetic industry.. The organic cosmetics can hinder the development and sales of the chemical cosmetics.
Bonifacio, F. (2011). Strong growth for online cosmetic sale. Global Cosmetic Industry. Chan-Koo, K. (2012). The Cosmetics Industry Adopts a high-tech Makeover. Seri Quartely. Chemical Market Reporter. (2010). Environmental Group Petitions For Cosmetics Safety Assessment. Cosmetics and Fragrances Market Report. (2012). Chemicals and Chemistry Business. Duber-Smith, D. C. (2012). Natural Cosemetics. Encyclopedia of Chemical Technology. Junaid, A. B. (2013). A Study on the Purchase Behaviour and Cosmetic Consumption Pattern among Young Females. Journal of Social and Development Sciences. McLeod, C. (2013). The Necessity Of Testing In New Product Development. Global Cosmetic Industry. Mukherjee, W. (2012). As Indian Men Say No to Body Hair ,Others Make Money. The Economic Times. Reisch, M. (2012). Chemical and Engineering News.See More on Cosmetics