29 Nov 2023
Kantar has launched one of its kind, cosmetic panel, which is a continuous tracking system to understand consumer behaviour in the beauty industry. The panel will track consumer purchases in face, eye, lips, and nails categories. The report will cover more than 3,000 women in the age group of 18-44 years. The panel will give monthly updates on the report and use an AI based image decoding feature to improve accuracy from 2024.
According to K. Ramakrishnan, Managing Director- Worldpanel Division, South Asia at Kantar, this panel is the first of its kind to include Artificial Intelligence for enhancing accuracy of the inputs and quality checks. This will provide brands with precise and real-time data to make better strategic decisions.
In the inaugural section of the Cosmetic Panel Report, it was seen that 42% of the 3000 tracked women bought at least one makeup product in the last 10 months, amounting to Rs. 1,120 crores.
During the same period, in India 33 million eye makeup packs were sold of which 24 million were kajal and eyeliners. The Kantar’s Cosmetic Panel Report also brought out that 70% of lipstick bought were bullet lipsticks and 40% of shoppers buy cosmetics online, of which 7% only shop from online mediums. However, people still prefer the try-and-buy way of buying products.