"It's Just Not Your Business" - Appliance & Lighting Manufacturers
to Personal Care Majors: Bonafide Research
In
India, there is clearly a trend of major appliance and lighting manufacturers entering
the personal grooming space, with Havells and Syska being the latest one. Going
forward, many such players may enter the industry as they have an upper hand
due to their brand presence and strong distribution channels. Indian market is
currently been flooded with many domestic and international brands offering a range
of personal grooming products.
As per Ministry of Statistics
and Programme Implementation - Government of India, 34.8% of total population was
in the age group of 15-34 years in the year 2011. According to various
estimates, it is expected that the average age of an Indian will be 29 years by
2020, as compared to 37 years for China and 48 years for Japan. With growing
young population in India and rising disposable income, the focus on outer appearance
have augmented a lot in the corporate as well as personal lives. Indian youth, both
of urban and rural areas, are now conscious about how they look & feel - a development
which has helped to boost the demand for personal care appliance in the last
two to three years. Moreover, rising prices for saloon services across the
country have made the shift faster as Indian youths prefer self-grooming to
save on money.
According to recently
published report of Bonafide Research 'India
Personal Care Appliances Market Outlook, 2021' the market for personal care/
grooming appliances is dominated by brands like Philips and Panasonic commanding
a share of more than 50% altogether. Philips and Panasonic are the major players
at the higher-end whereas a host of Chinese brands dominate the price sensitive
lower-end segment. There are very less organised players in the Indian grooming
appliance market which clearly showcases a huge opportunity. Personal grooming
has the potential to deliver high margins without any specific entry barriers,
resulting into an evident opportunity for new entrants. Also, Indian men and
women are looking for simple & convenient solutions to cut down their
frequent trips to salon and parlours.
HAVELLS
- THE LASTEST NEW ENTRANT
Early this year, electrical
equipments manufacturer Havells India Limited entered into personal grooming
category with the launch of products like beard trimmers, electric shavers,
hair straightener, grooming kit that includes precision nose & ear hair
trimmer, dryers and bikini trimmers among others. The company has also launched
baby hair clippers and eyes baby care sector next. All of these products will
be imported from countries like Hong Kong, China, Indonesia, etc. and will come
in the price range of Rs. 1,000 to Rs. 7,200. The products are now available
across different multi-brand retail stores, pharmaceuticals and cosmetics shops,
along with 400 exclusive 'Havells Galaxy' stores. Apart from this, Havells
India would also be selling the entire range through online e-commerce
platforms. Brand Havells has a good recall value among Indian consumers due to its
electrical and consumer goods sold in the market over last many years. Havells
has tried to use this image for targeting today’s youth; for whom the company did
not had any specific products till now. As youngsters are the major drivers for
personal grooming appliances category, the company will be able to connect more
with young consumers with these new launches.
SYSKA
ENTRY
Syska, which is popular for
its LED lighting products, also entered the personal grooming category earlier this
year. The company launched 30 beauty and grooming products for both men and
women that includes shavers, trimmers, clippers, hair
straightener, dryers,
epilators, curlers and electronic exfoliators. This is a diversification
strategy for brand Syska; wherein Bollywood celebrities like Sushant Singh
Rajput and Tamannaah Bhatia have been roped as the new face for personal care
appliances. The company has a plan to spend approximately Rs. 100 crore
on marketing and communication. Apart from these aggressive marketing plans,
Syska will also leverage its existing distribution channels for sale. As of
now, LED segment accounts for around 70% of the revenue in the company whereas
the rest is earned through mobile accessories and mobile insurance. Personal
care category is expected to contribute around 20% to its revenue in the near
future. The entire product range is currently being imported from Korea and
China.
Base Year: 2015
Estimated Year: 2016
Forecast Year: 2021
Pages: 100, Figures:
31, Tables: 20
CONTACT US
Bonafide Research & Marketing Pvt. Ltd.
Steven Thomas – Sales & Marketing
Manager
Telephone: +91-265-6551309/ +91-7878231309
Website: http://bonafideresearch.com/
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