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Cosmetic Trends Emerging in BRIC Countries
Posted: October 14, 2009
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Robust growth in the Russian market benefits modern retail establishments, such as the direct sales, specialty and mass channels, at the expense of the more traditional general store. Conversely, the Indian general stores channel, known as kiranas, maintains an overwhelming presence in the market with a 78% share and 9% growth, despite intensified competition from the department store and mass channels.
With overall sales growth for the global market expected to peak at 3.6% during the next five years, the outlook may seem a bit dim on the surface. But, as the individual channels continue to evolve, big gains are expected, particularly in developing nations. The key to success in this shifting global marketplace is to stay ahead of the curve for product and consumer trends with a diversified product portfolio and distribution strategy that allows for a nimble approach to strike while the iron is hot in a variety of channels and markets.
By Karen Doskow, industry manager with Kline & Company