The Health and Beauty industry is know to be resistant to economic downturns-even faring well during the Great Recession of 2008. Though consumers tend to be more price conscious during those times, they do not stop spending. So in today’s environment f rising per capita in somes the Health and Beauty business is booming.
In 2015 the industry generated $56.2 Billion in the United States. Hair Care is the largest segment with 86,000 locations. Skin Care is a close second and growing fast, expected to have revenue of $11 Billion by 2018.
This growth is being driven in part by a generally increasing awareness of the importance of Skin Care, but also specifically due to an increase in market for men. (Were we think the biggest opportunity lies’). By its nature, the health and beauty aids buiness is dynamic, responding to trends, clever promotions, packaging, etc. not unlike business in other comsumer industries. Studies continue to show that consumers will respond to new products; they make their new product decisions on product visibility and preception of uniqueness and quality. Further surveys show that consumers are moving away from their “multi-products” buying patterns and moving towards single products that combine a number of features and benefits into the one product; it is this trend that the Company will exploit.
In the broadest sense, competition for the Company comes from all other skin care and cosmetic products. In the narrow focus, there is no direct competition for this company.
US BEAUTY INDUSTRY SEGMENTS
Perfumes and Colognes
Deodorants, antiperspirant, feminine cleaning