The worldwide market for Online Beauty and Personal Care Products is expected to grow at a CAGR of roughly 19.5% over the next five years, and will reach 74800 million US$ in 2023, from 25700 million US$ in 2017. consumers prefer shopping online at discounted rates and therefore increasingly adopt online shopping. Hair conditioners, styling gels, bath gels, and shower products are the most commonly purchased beauty and personal care products online. Additionally, the wide range of products available on online platforms and the time-saving aspect of the medium are factors that have contributed to the rise of the online retail phenomenon. E-retailers offer better security features for online payments, customer-friendly services, easy-to-navigate shopping websites, and easy delivery, due to which the number of consumers using online shopping portals is anticipated to increase significantly in the next few years.
How big are the Online Beauty and Personal Care Products Market: here According to the Imarcgroup The global online beauty and personal care products market size reached US$ 47.8 Billion in 2021 and it is expected to reach US$ 90.4 Billion by 2027, exhibiting at a CAGR of 10.8% during 2022-2027.
The cosmetics industry is on the path to omnichannel integration, and the online channel will be transformed from a pure sales channel to a brand promotion platform: On the one hand, the online traffic effect is much greater than offline, and efficient brand promotion can be achieved and can be generated with consumers. Effective interaction. On the other hand, an e-commerce channel can generate a large amount of customer behavior data, which is of great value for all aspects of the cosmetics industry chain, including the development of marketing strategies for offline channels, supply chain response, and user relationship management, and new product development. In the long run, companies with strong control of channels and supply chain integration capabilities will have more competitive advantages.
The online beauty and personal care market in South Africa is set to grow significantly in 2024, driven by factors like urbanization, e-commerce, and consumer preference for natural products.
Market Growth: The South African market is expected to grow from USD 3.5 billion in 2024 to USD 4.38 billion by 2029 at a 4.62% CAGR[1]. The online segment is projected to reach USD 157.5 million by 2024, growing at a 9.1% CAGR through 2028[5].
Key Drivers:
Trends and Challenges:
Conclusion: Despite economic challenges, the market is set for robust growth, driven by urbanization, e-commerce, and evolving consumer preferences.
Citations:
[1] https://www.researchandmarkets.com/reports/4828219/south-africa-cosmetics-and-personal-care
[2] https://www.euromonitor.com/beauty-and-personal-care-in-south-africa/report
[3] https://www.mordorintelligence.com/industry-reports/south-africa-cosmetics-and-personal-care-products-market-industry
[5] https://ecommercedb.com/markets/za/personal-care
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