The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2017
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Despite the rapid growth of e-commerce over the last decade, store-based retailing continues to dominate the distribution landscape, accounting for 83% of global sales in beauty and personal care in 2016. The physical selling space is constantly being reinvented via in-store digital initiatives and by offering more holistic health and beauty services and consultations. But non-store retailing, dominated by the growth of internet retailing, is expanding faster.
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Premium beauty continues to grow significantly faster, at 4% year-on-year, driven by high-value brands and the greater uptake of premium products. Shifts in consumer lifestyle, such as rising health awareness and ethical consumption of fmcg continue to drive category sophistication and value-added growth in global beauty.
Despite the rapid growth of e-commerce over the last decade, store-based retailing continues to dominate the distribution landscape, accounting for 83% of global sales in beauty and personal care in 2016. However, non-store retailing is expanding faster.
The physical selling space is constantly being reinvented via in-store digital initiatives and by offering more holistic health and beauty services and consultations. These initiatives are becoming mainstream across the range, from premium brands’ own label stand-alone boutiques to mass merchandising outlets.
The growth of internet retailing has been fuelled by the large range of products available online; by the wider choice in terms of prices, brands and delivery options. While some consumers visit stores to test products, many turn to websites to buy such products in order to take advantage of online offers and convenience.
Personalisation initiatives enable consumers to make even better purchasing decisions online than in a shop. Apps and online platforms have been developed to advise consumers both via trusted computerised algorithms and virtual communities, bloggers and vloggers to choose the products best-suited for them.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.