Indians Set New Record, Bought Cosmetics Over Rs 5,000 Crore In 6 Months

The survey witnessed an upward trend of working women being a significant contributor to the cosmetics industry.

In the world of cosmetics, achieving a flawless makeup look that stays on all day is what people want. As there is a shift from work-from-home to work-from-office work culture, cosmetics industry has observed a whopping sale of over 100 million cosmetic items like lipsticks, nail polish and eyeliner in recent times. Out of the Rs. 5,000 crore spent by Indians, 40 per cent of the products were reported to have been bought online.

Excerpts from the study report:

The study by Kantar Worldpanel has revealed that "Indian consumers have spent Rs 1,214 on coloured cosmetics within a six-month period. 38 per cent of the sale was of lip products followed by the sale of nail products."

The study noted " a total of over 100 million cosmetic items like lipsticks, nail polish and eyeliners being sold in 6 months."

As per the study, "working women spend 1.6 times more on beauty products both online and offline than any average consumer. More than 150,000 makeovers were reported in the third quarter of the financial year of 2023 of Shoppers Stop."

Cosmetics of high demand:

Previously, consumers bought traditional beauty products like kajal and lipstick.

However, in recent times, consumers prefer to buy primers, eye shadows and concealers. Now, consumers make purchases based on specific events and everyday wear. As per the buying patterns, younger individuals prefer buying primers and tinted lip balms, while on the other hand, older individuals favour lipsticks and nail polishes.

Statement from Market Analyst:

Kantar’s Worldpanel Division’s South Asia Managing Director said, "With more and more women joining the workforce, the penetration and usage of the sector is only going to improve in the future." He also added that "Asia is the beauty hub of the world and countries like South Korea have been setting the bar high in the beauty trends across the map."

Some other interesting findings:

It’s interesting to note that the upward trend has not been recorded throughout India, but only for the top 10 cities like Delhi and Mumbai.

It is to be noted that young consumer behaviour is highly influenced by social media, while retailers’ endorsement accounts for only one-third of the purchases. This should be considered as India's "cosmetic boom", according to some industry experts.