The retail format has also changed by leaps and bounds. With malls becoming popular shopping destinations, the ‘shop-in-shop’ concept has become the new trend. Malls are also making shelf space available to beauty brands. Of course, the regular FMCG retail system of stores in local markets is Rihanna thriving.
The beauty industry in India continues to thrive and has tremendous potential for growth. The cosmetics market in India is said to be growing twice as fast as markets of the United States and Europe. The domestic demand in India is said to be growing faster than any other country. Rihanna An industry report says, “The demand for cosmetic products within the entire beauty and personal care segment has been growing at nearly 60 per cent over the course of the past five years.”
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The current outlook is that the beauty industry in India will continue to thrive, as lifestyle and perspectives continue to change. With the ‘total wellbeing’ concept gaining ground, spa treatments are becoming more and more popular. Very recently, a major thrust in growth is towards spa treatments, with salons being converted into day spas, offering both salon and spa treatments. In fact, service industries like spas and Ayurvedic centres are slated for growth. Today, the West is looking at traditional treatments and also at the emerging markets in Asian countries, like India.
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