By Products. By Gender. By Distribution Channel. Based on Geography. This has led to cosmetic manufacturers to undergo innovations to bring out the products with essential benefits. The trend in developed nations has infiltrated from spirits and liquors to fashion and beauty.
Consumers in high income countries such as UAE, Kingdom of Saudi Arabia and others are willing to pay more for higher quality. According to the report, global beauty and personal care industry players are expanding their businesses or increasing the supply in large consumer markets such as India, South of Russia, West Africa, East Africa, China and others.
This will lead to increase the number of flagship stores and supply of premium cosmetic products into the market. Entry of new players in developing nations will increase the competitiveness into the market which caters to the buyers to get good discounts and offers on premium cosmetic products. However, digitalization is one of the major challenges for the industry players which are pushing them towards the entirely new business model. The drop off in flagship stores growth, where one store per week was the store opening rate, has now shifted the market players towards e-commerce platforms.
Most of the industry players recognize the high potential of the digital shopping industry and rising trend of e-commerce. Nowadays, premium brands are more cautious about opening new flagship stores as the return on investment ROI is going low. Based on geography, Europe dominate the global premium cosmetics market with a revenue share of Europe is growing due to presence of fashion capital and presence of many premium brands, along with the high per capita income countries. On the other hand, Asia Pacific region is one of the fastest growing market place across the globe on the back of huge consumer base.
However, brands are realizing that, in Asian countries, they will face rural and under developing nations with high population growth. While Middle East and Africa is the fastest and the most opportunistic market place for the premium cosmetic brands owing to high income population and luxury lifestyle in the region.
Avocadoes body Tourists High quality products availed Low quality lotions with less cream smoother in recognized shopping centers moisturizing content and malls High level of skin moisturizing and smoothening.
Hair glow Retailers Reliable supply at the right Delays in supply and un time and place in right coordinated supply chain and quantities. PRODUCT PLAN We will specialize majorly in cosmetic products and manufacturing of locally made cosmetic products to treat the skin illness such as fungal diseases using locally produced vegetables and fruits as ingredients in the manufacture of these cosmetics We will offer free consultancy services to our clients, free cold water, and warm water for washing our hands.
We will employ people who are easily accessible, customer oriented, efficient and effective. We will provide customized services like skin therapy and hair dressing to our most esteemed customers during the weekends when we are not very busy so as to meet their demands and needs by being agile. I have studied the prices of Baby Face Organic who are my major competitor and I think that selling at lower prices will be one of the most important ways of competing them. A low price is important especially for students, market vendors and retailers.
I know that customers are willing to pay for my products in different sizes and shapes. With these prices in mind, I will fill in the price section of the business plan.
PRODUCT PRICE FORM Products, services or range of products offered Perfumes 1st Lemon body Hair relaxer Avocadoes body Hair glow class lotion cream cream smoother Costs 4, 4, 3, 4, 4, How much 35, lowest 10,lowest 9,lowest, 21,lowest, 10, lowest, customers are highest highest highest highest highest willing to pay corporate students and market tourists and retailors and employees and low income vendors and corporate employees market vendors tourists.
The location is very good since they a lot of hair dressers in this arcade hence full of women who potential customers for the cosmetic products because they want to look good and.
The place is chosen due to a boom of commercial activities, an expected client base from students, tourists, corporate women employees, and the large population is women as compared to men. The cosmetic shop will have adequate lighting. The marketing plan place form Location. It is located opposite Agip Motel near bus park garage street. The location is chosen because of the following reasons.
Clean environment and closeness to the main road that is Mbarara- Masaka road. Method of distribution Individuals retailer wholesalers distributors The ways of distribution are chosen because of the following reasons.
Retailers, distributors and wholesalers, will buy and sell in bulk to our final customers which we cannot sell to directly Individuals, will be used because we have a high customer traffic and so we shall sell to them directly at our main outlet in Mbarara. Distributors, will help to deliver our products to all our customers all over the country and even outside countries in East Africa in the right time and place. We also intend to use a highly skilled marketing manager to market our products; for example; in Kampala town universities, offices and other local areas around.
We intend to also visit personally our general stores and major wholesalers of our products and use other few methods of promotion.
STAFF I do not know much about running my own business but I plan to work hard and study to learn all in need to know. According to my staff plan, I will be responsible for buying inputs and assume the senior management role.
The business will be small so I will need more few employees to assist in some functions as follows. The operations staff will be responsible for manufacturing and mixing the inputs to produce the cosmetics and all our products and will include three employees with the relative skills as will be described and one of the three will assume the role of being a supervisor of production and operations.
Sales and marketing. I will need one employee who will be responsible for marketing the products and selling at our main out let in Mbarara to our direct customers and will be responsible for customer service. Two more employees responsible for offering additional services to our customers that is skin therapy and hair dressing. Two more family members will be employed and will assume the roles of stock control, and selling to the market vendors, retailers and distributors and record keeping role respectively.
Staff form Task Required skills and experience Performed by Monthly pay Senior manager, buying inputs Business management and leadership Akampurira UGX and overall supervisory work skills.
I have contacted a number of government agencies including, the regional tax office, Mbarara Municipal council, Ministry of Labour and the National Environmental Authority and I have found out the legal requirements that apply to my business. I have also contacted the insurance company that is ICA insurance company to find out the costs of insurance for my business. UGX , Shop license worth………………………………………………… UGX per year Medical insurance………………………………………………… Calculate direct material These are the materials used in production that will become part of the final product.
Restricted application of a few ingredients in cosmetic product 3. Opportunities 3. The potential emerging market for cosmetic products 3.
Porter's five forces analysis 3. Bargaining power of suppliers 3. Bargaining power of buyers 3. Threat from new entrants 3. Threat from new substitutes 3.
Degree of competition 3. Market Attractiveness Analysis 3. Market attractiveness analysis, by product type segment 3.
Market attractiveness analysis, by distribution channel segment 3. Market attractiveness analysis, by regional segment Chapter 4. Company market share analysis 4. Global cosmetic skin care market: company market share, 4. Strategic development 4. New product launch 4. Agreements, partnerships, collaborations and joint ventures 4. Research and development and regional expansion 4. Price trend analysis Chapter 5.
Global cosmetic skin care market: product type overview 5. Global cosmetic skin care market revenue share, by product type, and 5. Moisturizers 5. Global cosmetic skin care market for moisturizers - USD Million 5. Cleansing Lotions 5. Global cosmetic skin care market for cleansing lotions - USD Million 5. Facial Masks 5. Global cosmetic skin care market for facial masks - USD Million 5. Shaving Creams 5. Global cosmetic skin care market for shaving creams - USD Million 5.
Serums 5. Global cosmetic skin care market for serums - USD Million 5. Exfoliators 5. Global cosmetic skin care market for exfoliators - USD Million 5. Anti-Ageing Creams 5. Global cosmetic skin care market for anti-ageing creams - USD Million 5. Toners 5. Global cosmetic skin care market for toners - USD Million 5. Eye Creams 5. Global cosmetic skin care market for eye creams - USD Million 5.
Sun Care Products 5. Global cosmetic skin care market: distribution channel overview 6. Global cosmetic skin care market revenue share, by distribution channel, and 6. Online Sales 6. Global cosmetic skin care market for online sales, - USD Million 6. Standalone Retail Outlets 6. Global cosmetic skin care market for standalone retail outlets, - USD Million 6. Tubes are convenient to handle and use as they are compact and therefore expected to hold a major market share.
They can be quickly taken along on the go as they are lightweight, occupy less space than bottles, and allow easy product application compared to jar and bottle. For jars, the contents of the jar can get exposed to air and light frequently when the lid of the jar is opened, which may lead to contamination or degradation of active ingredients used in the product, which is not the case for the tube. Bottles are suitable mostly for liquid products such as toner, oils, and serum.
Whereas the tube can be used for the majority of the products and using the tube for products is more hygienic and safe. The bottles packaging segment is also estimated to gain noticeable skincare market share.
The manufacturers focus on designing unique, attractive lotion and serum bottles made with biodegradable and recyclable packaging. The bottle packaging offers durability and therefore enhances the lifespan of the product stored.
The jars are also widely used for packaging cosmetic products, and they are available in various shapes and sizes. They are either made from glass or plastics and provide a sufficient capacity to store lotions and serums. The female population is more aware of available products in the market for various applications, which is, in turn, is boosting the product demand.
For instance, in , according to the U. However, factors such as changing consumer trends and rising awareness regarding grooming, skin maintenance, and willingness to look better among the men population have led to the development and launch of new products.
The male segment is also expected to hold a significant share due to the growing consciousness about personal grooming and health care. The rising interest in face products has supported the market growth for such products. This is because personal appearance has become an essential role in modern men's lives. So, this has paved growth opportunities for the skincare industry. Cosmetic stores are specialty stores where all the cosmetic products are made available and facilitate customers to check the product details physically.
These stores offer customized kits containing a number of cosmetic products packed together for consumers, and the kit is being provided at a discounted price to attract the customer. Newly launched and latest products are readily made available in cosmetic stores as compared to hypermarkets and supermarkets.
Additionally, attendants in cosmetic stores are trained where they can guide the customer to buy specific products as per their requirements. Therefore, these factors are expected to boost the growth of the cosmetic stores' segment. To get more information on the regional analysis of this market, Request a Free sample. Asia Pacific is expected to hold a significant share owing to the rising standard of living, increasing the working-class population coupled with the increasing spending power of the populace in the region.
Additionally, the changing lifestyle and increasing disposable income of the populace in countries such as China, India, Japan, and others have resulted in increased spending on well-being and personal care products, which will foster the product demand. Moreover, increasing awareness regarding skin nourishment products owing to increased access to a wide range of brands is expected to propel the skincare market growth in Asia Pacific. For instance, according to the Japan Cosmetics Industry Association, skincare products held the highest market share, accounting for Europe is expected to hold a significant market share in the global market.
European males and females are more concerned about their looks and therefore pay more attention to improving the overall quality of their skin.
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