Growing consumer demand is fueling a beauty industry boom in India.
The market is estimated to be worth $950 million, and it is expected to triple by 2020,and global are now taking notice.
CGTN’s Ravinder Bawa reports.
From beauty tips to product reviews, beauty blogger Komal Narang rolls out three videos a day to spice up the lives of India’s busy women.
In a year, her YouTube channel has made a mark especially among young women. She stresses a personal touch in this beauty business.
Bloggers like Komal on social media are influencing young Indian consumers. India’s vast youth market is attracting more and more brands to set up shop here. The wide range of products available, from local to international brands, is adding to the rate of consumption. By all accounts, business is good.
“Currently we have four pillars in the business make-up, skin care fragrances and then we have bath and body men’s grooming and others and consistently all these categories are growing very fast. The fastest is make-up growing at the pace of 29 percent and the industry is also growing at the same pace. The women in the workforce are graduating from value to mass and mass to premium products and that’s where we come in play and we allow them to experience inside our stores and then buy these products,” Vivek Bali, chief operating officer for Sephora India said.
In addition to the success seen in brick-and-mortar stores, online sales are also at an all-time high. While American brands dominate the retail shelves, it is the Chinese products creating buzz in the online world.
Make-up artists like Parul Garg said they’ve never before had access to such variety.
“There are a range of products are available now. Things related to accessories the hair we use Chinese products as China has good products that we use from eyelashes to hair. They have good quality products when it comes to hair extensions and lashes,” Garg said.
With a foothold in India’s major metropolitan areas, many of the big beauty brands are now looking to explore the somewhat smaller Tier Two cities, a market still untouched by premium products.
Simon Pitman talks about how social media has dramatically shaped the beauty industry
Video tutorials and social media have dramatically shaped the beauty industry. And a growing number of consumers are ditching traditional cosmetics brands for independent start-ups. For more a contoured look into the market CGTN’s Rachelle Akuffo spoke with Simon Pitman editor of the Digital Business Journal, Cosmetics Design.