Abstract
Why buy this report
- Get insight into trends in market performance
- Pinpoint growth sectors and identify factors driving change
- Identify market and brand leaders and understand the competitive
environment
Product coverage
Baby care; Bath and shower products; Colour cosmetics; Deodorants;
Depilatories; Fragrances; Hair care; Men' s grooming products; Oral hygiene;
Premium cosmetics; Skin care; Sun care
Executive summary
Financial constraints do not affect growth in all niches
Although some products, such as bath and shower, deodorants or colour
cosmetics, appear to be influenced by consumers' financial constraints, in
other areas of the market, such as skin care, facial make-up and hair care, a
shift towards more premium brands is being noticed. This indicates that Greek
consumers are trying to save money on toiletries, while when it comes to
products where efficacy is more of an issue they are willing to spend more. To
be more specific, for products such as anti-agers, firming/anti-cellulite
products and various hair treatments, consumers seem willing to spend more in
order to achieve a better result. In general, skin care is the sector that is
influenced more, along with facial make-up, given that when it comes to the
skin Greek consumers appear more demanding.
High growth for depilatories in 2006
Driven by a significant increase in consumption of bleaches and hair removers,
depilatories saw 7% growth in current value terms in 2006. Although
consumption of disposable razors is far higher compared with bleaches or
waxes, the higher unit prices of these products drives the whole depilatories
environment to see strong growth. Due to their long-lasting results hair
removers are gaining popularity among women in Greece. Companies are also
focusing more on making methods of hair removal less time consuming in order
to break their link with impracticality. Within this framework, and along with
the fact that fashion increasingly demands the removal of much bodily hair,
depilatories saw high growth rates in 2006.
Hair care remains largest cosmetics and toiletries product type
Advanced formulas and increasingly sophisticated products represented the core
focus of companies for adding value to hair care products in 2006. Although
companies did not manage to achieve great results, meaning that growth rates
for 2006 remained relatively low, the hair care environment continues growing
despite its maturity. This is due to investments in new product formulas, with
companies managing to introduce products with very specific claims, which
stimulates consumer expenditure.
Skin care considered most promising
The ageing of the population, the fact that tanning is becoming fashionable
once again, and the ongoing obsession of the female population with physical
appearance, all contributed to the growth of skin care sales, making this
environment an area of focus for most companies. Products with very specific
claims are being introduced in order to stimulate consumer interest and boost
spending. Self-tanning body lotions, anti-ageing creams and advanced firming
and anti-cellulite products are the focal points for innovation, as the
immaturity of these niches not only allows great room for development, but
also guarantees high growth.
Men' s grooming products continue to grow
With men' s skin care seeing the highest growth, men' s grooming products
continue to see very high growth. Since this environment has only just begun
to develop in Greece, and given that the availability of products is
constantly rising, it is clear that most innovation is currently focused on
this rising niche. The media' s contribution to growth is undoubtedly great, as
the profile of a man who takes care of himself is constantly promoted. In this
context, companies believe that men' s grooming will continue to grow in coming
years, while a bombardment of new products launches is expected.
Modest growth predicted for the future
Modest growth is predicted for the future, with particularly high growth
anticipated for depilatories and skin care. Less glamorous products -- for
functional application, rather than to make oneself more beautiful -- risk
stagnation, however, with declines expected for deodorants, for example.
Prospects for fragrances are also far from optimistic, primarily due to
intensification of price competition and even private label growth.
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