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Cosmetics & Fragrances Market Report Plus 2008
Key Note Publications Ltd, March 2008, Pages: 138
This report covers the UK market for cosmetics and fragrances. The two sectors are split into several sub-sectors: fragrances include perfume, eau de parfum, eau de toilette and eau de cologne; and cosmetics include facial make-up, eye make-up, lip products and nail products. In 2007, the total market rose by 6.3% in value. The report excludes more functional items of personal care, such as soap and shower gels, which are covered in the Market Report Plus on Toiletries.
According to BMRB International Ltd's 2007 Target Group Index (TGI) survey, penetration of cosmetic products and fragrances is high, with 89.7% of women using fragrances in the 12 months prior to the survey and 80.1% using lipsticks. However, expenditure on beauty products and treatments is discretionary and tied in with disposable income. Consequently, any decline in consumer confidence could considerably affect the market, particularly the premium sector.
However, despite predictions of a frugal Christmas on the high street in 2007, fortunes seemed varied with, for example, John Lewis recording an 8% growth in total sales for the week including Christmas and the early New Year sales period. Superdrug, meanwhile, said its Christmas sales of fragrances were boosted by the popularity of celebrity perfumes, which made up around 40% of all fine fragrances sold at its high-street chains that Christmas.
According to the online fragrance encyclopaedia, Fragrances of the World 2007 — created by FiFi award winner Michael Edwards — 10 years ago there were only 205 new men's and women's fragrance launches worldwide. Since 2000, there have been more than 3,300 and in 2006 alone there were 693.
The decorative cosmetics market has been characterised by an interest in premium and anti-ageing facial make-up. The main reason for this has been increasing demand from the baby-boom generation, many of whom are now reaching their 60s, but who are now under pressure in modern society to maintain their looks and, who tend to, have the disposable income to invest in decorative cosmetics. Another driving factor has been an increased interest in natural and organic products. Although The Body Shop and Neal's Yard have been well established for many years, there has been a recent influx of new businesses, and even the supermarket chain Tesco introduced its own organic cosmetic collection in February 2007.
The EU and Western European retail market for cosmetics and toiletries is certainly one of some maturity but, according to the European Cosmetic, Toiletry and Perfumery Association (COLIPA), still achieved growth of 4.2% in 2006 to reach more than _67bn. The UK had retail sales (including sales of toiletries) accounting for 15.9% of the total, and was the third-largest market in Western Europe behind Germany and France. The UK has a trade deficit in fragrances and cosmetic products but one that, in 2006, for the second consecutive year, decreased as the value of exported goods increased at a faster rate than that of imported goods.
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