Health and Beauty Specialist Retailers in Singapore - New Market Study Published

From: Fast Market Research, Inc.
Published: Wed Jan 27 2016

Beauty specialist retailers was the main contributor towards the strong value sales growth of health and beauty specialist retailers in 2015. Stemming from strong consumer demand for Korean beauty products, 2015 saw the rapid expansion of retail outlets by Korean beauty specialist retailers. Several major Korean brands such as Innisfree, Etude House, VDL, and Sulwhasoo introduced new standalone stores in the popular shopping districts of Orchard Road and VivoCity. Multi-brand retailer Sa Sa also launched the Selectiv’ concept store that focuses on Korean and Japanese labels.

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Competitive Landscape

Watson’s was the leading retail brand in 2015 with a 20% value share. It benefitted from a strong product portfolio that ranges from consumer health, beauty and personal care, home care and tissues, to food and drinks. Moreover, Watson’s frequently launched closed door sales and exclusive deals under its membership programme, which managed to attract repeat visits from customers. Watson’s was also able to maintain strong consumer interest in its products as it brings in at least 15 new labels every year.

Industry Prospects

Health and beauty specialist retailers is expected to have a CAGR of 3% at constant 2015 prices over the forecast period. Over the short to medium term, growth is likely to come from beauty and specialist retailers as they continue to benefit from the strong Korean beauty trend. In the long term, it is likely to be boosted by chemists/pharmacies and other healthcare retailers. More demand for healthcare products is expected as Singapore faces the impact of an ageing population.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Health and Beauty Specialist Retailers industry in Singapore with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Health and Beauty Specialist Retailers industry in Singapore, our research will save you time and money while empowering you to make informed, profitable decisions.

The?Health and Beauty Specialist Retailers in?Singapore market research report includes:

* Analysis of key supply-side and demand trends
* Detailed market shares for international and locally-based retailers
* Historic number of stores, selling space and values, company and brand market shares
* Five year forecasts of market trends and market growth??
* Robust and transparent market research methodology, conducted in-country

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