background & purpose
The beauty industry in Southeast Asia is experiencing significant growth and transformation.
The e-commerce beauty care market in Asia is projected to reach US$19.24 billion in 2023, with an expected annual growth rate of 9.23%. By 2027, the market volume is estimated to reach US$27.39 billion.
Additionally, revenue in Southeast Asia of the Beauty and Personal care market is worth US$33.10 billion in 2023, and expected to grow by 3.31% annually.
Beauty industry contains various segments taking up market share such as:
– Cosmetics
– Fragrances
– Skin care
– Body care
To see the receptivity of a certain beauty-related product in new countries, our client was keen to understand what features consumers are in need of and the potential competitors in five South East Asian countries.
project scope & action
Desk research on competitors
Design the questionnaire
Recruit the suitable people for the expert interviews
Conduct interviews
Summarise the information gathered by both expert interviews and desk research
DELIVERABLES
- Sales of benchmark top selling products in Southeast Asia beauty industry
- Brand mapping by appealing features of beauty products
- Trending beauty products in in Indonesia, Myanmar, Singapore, Thailand, and Vietnam based on expert interviews
