Abstract
Overview
Introduction
Growth opportunities in premium personal care are most apparent in Asia
Pacific. In particular, double-digit year-on-year growth has characterized the
Chinese and Indian premium personal care market from 2002 to 2007. Though
starting from a low base, this is indicative of how the emerging markets can
help offset difficulties that are likely to be encountered in the next 12-18
months.
Scope
- The first in a series of three sector specific reports designed to help
FMCG companies capitalize on consumers' desire to trade up
- Asia Pacific, Western European and US consumer wealth group data and
premium personal care spend data by category and country
- A comprehensive analysis of how consumers form their perceptions of what
constitutes a luxury/ premium proposition
- NPD analysis and detailed recommendations offering practical strategies
based on the trends and insights uncovered throughout the report
Highlights
- The rise of the so-called global middle class has been a major factor in
facilitating trading up (or premiumization) across the globe. From 2002 to
2007, Hong Kong, China, and India witnessed the highest growth in the number
of Mass Affluent Individuals. The latter two nations are also showing the most
growth in premium personal care products
Perceptions of what is considered to be a luxury/ premium brand are dependant
upon five key factors which make up what Datamonitor refers to as the ' Premium
Price Index' . By using this as a reference, personal care manufacturers and
retailers can show consumers that their goods represent value for money in
more than just price
Consumers will increasingly ask questions about what brands/ products stand
for and how they match their own values. Basing a campaign around a strong
ideological belief held by a target audience can be effective in building
brand relevance and increasing shoppers' willingness to pay (WTP) a price
premium
Reasons to Purchase
- Mitigate the threats posed by an uncertain economic environment by
understanding how consumers perceive and judge upscale beauty brands
- Access unique consumer wealth and premium personal care data spanning Asia
Pacific, Western Europe and the US
- Understand the most pertinent opportunities to drive brand and market
growth in the personal care sector
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