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Luxury Personal Care Goods And Cosmetics Market Growth Slows Down, Report Shows

November 1, 2015: 12:00 AM EST
In 2014, the global market for personal luxury goods expanded 3.0 percent to €224 billion, a marked slowdown following a decade of double-digit growth, according to the report “Seeking Sustainable Growth: The Luxury and Cosmetics Financial Factbook 2015 Edition.” Profitability was adversely affected by the slowdown in sales, with the average margin of the industry’s listed companies dropping 1 percentage point compared with the previous year. Despite this, annual growth forecast for the market remains unchanged, between 4 percent and 6 percent through 2017. In the same period, the global cosmetics market grew 3.6 percent to €181 billion. Growth will be driven by middle-class consumers’ demand for high-quality and innovative products. In the year ahead, the industry faces three pressing issues: managing demand worldwide, defining an omni-channel strategy, and fine-tuning the retail model.
"Seeking sustainable growth: The luxury and cosmetics financial factbook 2015 ", EY, November 01, 2015, © EYGM Limited
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