Nigeria: Beauty product market growing says new report
Young women spending more on body wash/shower gel, fragrances and deodorant
ReportBuyer.com the leading website for market research reports has added a new study Beauty and Personal Care in Nigeria. The 84 page report says that beauty and personal care recorded an improved performance in 2011, compared to the review period as a whole, owing to the rising rate of urbanisation in the country.
Urbanisation, and attendant lifestyles, has helped to increase the demand for beauty and personal care products, as consumers strive to acclimatise to urban environments. Positive economic growth has boosted consumer disposable income and confidence, leading to higher spend on beauty and personal care. Marketing activities also helped to drive demand even though average unit prices increased
significantly due to rising costs of production and imports.
Retail value sales rose in 2011 as consumers increasingly appreciated the task-specific attributes of some brands. This encouraged them to spend more on such products. Young adults, especially women, are spending more on task-specific products like body wash/shower gel, fragrances and deodorants, which helped to grow these categories. Retail value share growth is further spurred by advertising and the wider penetration of such products. As the industry becomes more competitive, manufacturers and importers are driving their products through increased advertising budgets. They are also seeking new opportunities through wider retail distribution networks, which had a strong impact on value growth.
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