A recent study conducted by Kantar Worldpanel revealed that Indians spent a whopping INR 5,000 crores on cosmetic purchases in the past six months. These cosmetics were bought from top 10 cities, mainly by working women, and comprised of 100 million beauty product pieces like eyeliners, lipsticks and nail polish etc. Nearly 40 percent of these products were bought online.
This tremendous growth can be attributed to increasing numbers of working women with disposable income. The rapid increase in online channels selling cosmetic products is another major factor contributing to the growth of this booming sector. The report further states social media influencers promoting beauty products with informative content will further boost the beauty sector in the near future.
In the last six months, the purchase of colour cosmetics witnessed tremendous growth, with eyeliners, nail polishes and lipsticks showing a significant growth in the top cities of India. Moreover, today’s informed consumers willingly experiment and indulge in novel products like concealers, eye shadow and primers, restricting traditional kajals and lipsticks for special occasions. Presently, younger population are opting for tinted lip balm and primer while the older generation stick to lipstick and nail polishes. The diversification among different age groups ensure brands cater to the relevant product demands on the go.
This engaging involvement between consumers and the beauty industry through the online medium and social media influence is all set to generate multifold revenue for the beauty sector, taking it to the next level.