The revenue of health and beauty specialist retailers in India depends on the ability and willingness of customers to visit these physical stores. In 2021, due to government-mandated lockdowns and restrictions on travel, working in offices and the operation of commercial areas due to the second wave of COVID-19, consumers made limited trips outside the home, which impacted their visits to these stores.
With the lockdowns and slow commercial activity in 2021, the rates of commercial property reduced. Growing retailers such as Sephora, Nykaa and Lenskart acted on this opportunity to announce aggressive expansion their store networks in tier 1 and tier 2 cities, in order to improve visibility and access, and be ready for future demand.
The first wave of COVID-19 in India made people realise the need for chemists/pharmacies in nearby locations that are operational around the clock and face no difficulties due to supply chain issues. Established chemists/pharmacies such as Apollo and Medplus went above and beyond to serve customers by increasing their rate of expansion and maintaining operations during the second wave of COVID-19.
During the two years India has been impacted by COVID-19, one thing brands realised was that there was significant potential in the e-commerce channel. As consumers became increasingly comfortable shopping virtually from the comfort of their homes, online channels evolved in terms of convenience, automation and functionality.
With e-commerce being an integral part of the sales channels of any retailer, the integration of offline and online channels will further facilitate sales of products in the market. Brands such as Lenskart, which started as an online-only retailer, have now expanded their physical stores across the country, while brands such as Vision Express have forayed into the online space.
Increased use of social media, higher awareness of trends, higher disposable incomes and the increasing “influencer” culture has led the youth population of the country to be aspirational in their choices and not shy away from trying new products – be it colour cosmetics, skin care products, eyewear, etc. This trend is expected to continue in the forecast period, with the youth population in India driving health and beauty specialist retailers to see growth.
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Understand the latest market trends and future growth opportunities for the Health and Beauty Specialist Retailers industry in India with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of chemists/pharmacies, drugstores/parapharmacies, beauty specialist retailers, optical goods stores and other healthcare specialist retailers.See All of Our Definitions
This report originates from Passport, our Health and Beauty Specialist Retailers research and analysis database.
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