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Magazines Archives - 2009 May

One bright spot in downturn: Cosmetics non-negotiable
Story 9 - News

Make-up appears to be recessionproof in the US, Mintel revealed. A fresh forecast by the company — on the back of its previously-published findings to assess which beauty and personal-care markets are immune to the downturn in the US — has revealed colouring cosmetics among the bright spots in the generally struggling retail sector.

“Many women have a deep emotional tie to their appearances, so cosmetics are non-negotiable. These women may trade down on other purchases or forgo expensive vacations, but they will still treat themselves to small, feel-good luxuries like make-up and other beauty products,” said Joan Holleran, Mintel’s director for research.

Mintel has also projected that antiageing products will do well despite the economic slowdown, with expectations of 20% growth for the anti-ageing skincare market over the next five years. The projection, however, is much lower than Mintel’s five-year growth forecast of 44% a year ago.

In keeping with projections, sun-screen sales are expected to increase 36% from 2008-13. Again, this figure has been revised downward from its original 41%.

“But it still shows people continuing to follow dermatologists’ advice to use sunscreen daily,” Mintel noted.

Products “beyond deodorant, shampoo and razors” are at risk, however, Holleran added.

“Shoppers are trading down to save money on purchases they don’t deem necessary. Personal-care companies need to focus on value, feel -good benefits and new product innovation to keep shoppers interested,” she said.


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2009 May Stories:

Strategic planning in this crisis - Part 1: How has the paradigm shifted for Asian retailers?

HKTDC Food Expo 2009 to host first Hong Kong International Tea Fair

Cards & Payments Asia 2009: Shifting consumer attitudes impacting market direction

How Thailand instils

High stakes ensure integrity in Singapore

Cleanliness, safety the be-all & end-all in the Philippines

More needs to be done in Malaysia

India works to flush out the enemy within

One bright spot in downturn: Cosmetics non-negotiable

Two malls set to open in Singapore

GLP continues investment in China

Melamine scare, global recession put a dent on world dairy market

Laura Ashley Japan installs software to improve store efficiency, customer service

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