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Indians spent over Rs 5000 crore not on luxury purchases but on Cosmetics in the last six months.
Rakesh Deshmukh
/ Categories: Trending, Mindshare

Indians spent over Rs 5000 crore not on luxury purchases but on Cosmetics in the last six months.

Among Asian Countries, India stands out as one of the fastest-growing markets for cosmetics products, particularly in the colour cosmetics industry, which includes eye, facial, and lip makeup categories.

According to Kantar Worldpanel's inaugural study on the cosmetics category in India, over the past six months, the top 10 Indian cities witnessed the sale of more than 100 million cosmetic items, such as lipstick, nail polish, and eyeliner. Consumers collectively spent over Rs 5,000 crore on these beauty products, with 40% of them opting for online purchases. 

As per the report, working women who engage in both online and offline cosmetic shopping tend to spend 1.6 times more than the average amount spent by all cosmetic buyers.  

K Ramakrishnan, the managing director of Kantar's Worldpanel Division in South Asia, expressed that with an increasing number of women entering the workforce, the cosmetics sector's reach and utilization are expected to further enhance in the future. Additionally, he highlighted that Asia is already regarded as the beauty hub of the world, with countries like South Korea leading the way in setting beauty trends worldwide. 

On average, consumers spent Rs 1,214 on coloured cosmetics in the past six months. Lip products accounted for 38% of total sales, followed by nail products, indicating that Indian shoppers are diversifying their beauty purchases. 

The trend shows that Indians are exploring beyond traditional products like kajal and lipstick and embracing more evolved items such as primer, eye shadow, and concealers, tailored for different occasions and everyday wear. 

The report also indicated that more than a third of purchases are driven by retailer’s advocacy with social media playing a significant role in influencing buying decisions, particularly among younger consumers. Older segments prefer lipstick and nail polish, while younger consumers opt for primer and tinted lip balm. 

As per Mordor Intelligence, India's cosmetics market is expected to achieve a 4.23% CAGR over the next five years. The colour cosmetics segment is experiencing rapid growth in India, driven by the acceptance of Western culture and the increasing aesthetic appeal among the younger generation. 

Among Asian countries, India stands out as one of the fastest-growing markets for cosmetics products, particularly in the colour cosmetics industry, which includes eye, facial, and lip makeup categories. 

Over the past 3 to 4 years in India, the online market for purchasing cosmetics products has experienced rapid growth, thanks to the increasing internet penetration. 

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