Aggressive Development In The Retail Market Of Health And Beauty Category In Hong Kong Market Outlook: Ken Research
The demand for cosmetics and personal care is growing
more rapidly as in the recent trend the population has become more serious with
the health. The health and beauty items in the retail market of Hong Kong are
gaining more attention as these types of products totally transform the life
style of the consumer. Moreover, with the growth in demand of cosmetics and
personal care products, the major retailer of health & beauty items is
exploring their business on the e-commerce platform. The key retailers are
introducing latest technologies for making effective and attractive product at
a reasonable price which make the market more profitable and fruitful for both
the consumer and retailers. Unsurprisingly, the significant increase in
disposable income and drastic development in the economy are the key factors
for leading the growth more significantly. Moreover, the key players have
formed so many strategies and policies for acquiring the highest share across
the globe more effectively.
According to the report analysis, ‘Health & Beauty Retailing In Hong Kong,
Market Shares, Summary And Forecasts To 2022’ states that some of the major companies which are currently
functioning more actively to meet the demand of potential consumer and
acquiring the highest share in this category of retail market includes
Mannings, Sa Sa, Watsons, Bonjour, Nu Skin, OSIM, DFS, Colourmix, Aeon, Eu Yan
Sang and several others. Meanwhile, out of top 10 retailers, six retailers
registered a decline in sales of this category product in 2017.
Not only has this, the report provide huge analysis
and forecast the retail market with the health and beauty category which
includes market dynamics, consumer trends, Hong Kong retail environment,
business environment, market share of retailers, data for historic and forecast
retail sales with the changing economic and demographic factors and development
in the technologies.
The health & beauty segment is expected to result
the fastest growth, at 5.9% CAGR during 2017-2022 whereas, the retail market of
Hong Kong is anticipated to grow at a CAGR of 3.5% during 2017-2022. Moreover,
with the significant growth and extensive development in the economy with the
upgradation in the disposable income is set to operate the sector sales.
However, the online retail grew more rapidly to become the second largest
channel of distribution whereas, the specialist retailers lose its share. The
citizenry of large youngers and significant growing the usage of smart devices
drive the online sales. Moreover, the key retailers are introducing the growth
with the surging online sales while in-store sales decline. Furthermore, the
key players are working effective working with the efficient planning and
strategies for dominating the highest share.
The key players are determining
the consumer trend more significantly and establishing latest technology which
is very much helpful for both the consumer and retailer. Therefore, in the
coming years it is expected that the health and beauty retailing in Hong Kong
will grow more significantly with the extensive usage of latest technologies on
the firm over the decades.
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Ankur Gupta, Head Marketing &
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