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Indian Male Consumers Willing to Pay More for Male-oriented Beauty Products
Posted: March 28, 2012
In a new study from market research company Kuick Research, it was found Indian male consumers are willing to pay higher prices for male-specific cosmetic products. According to the study, more than 80% of the men surveyed by Kuick said they would pay up to 10–15% more for cosmetic products oriented specifically to men. And although Indian male consumers are more price sensitive than their counterparts in Western countries, the report also notes that they don’t hesitate to pay premium for cosmetic products when it comes to feeling good and looking attractive.
"India Male Cosmetics Market—Consumer Insight 2012" notes how the consumption of cosmetic products by Indian males has witnessed an upward trend in recent years and finds that Indian males are now coming up to par with female Indian consumers when it comes to using cosmetic products such as, according to Kuick, “fairness creams, anti-dark circle creams or even anti-wrinkle products.” In fact, in the research firm’s results, most of the surveyed men were found to be using cosmetic products even if these products were oriented for female consumers.
A target for growth, the male-oriented cosmetic market in India is still young, and although the market is yet to be structured, the Kuick report notes that early entrants are more likely to achieve a higher degree of product acceptability among male Indian consumers. The market is expected to see double-digit growth in the coming years, driven by increased spending and the changing lifestyle among male consumers, making analysis of cosmetic product usage, purchasing and consumption patterns of particular note for this region.