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Brazil Poised for Ongoing Double-digit Growth
Posted: May 9, 2008
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Makeup proved to be the fastest growing category in 2007 for Brazil, with a 17.8% growth rate, according to Kline's report. In the Latin American market overall, the luxury class posted the highest growth in this category, up by 23.6%, followed by salons at 17.4% and specialty stores at 16.5%."People in the middle- and low-income levels have seen a big improvement in their purchasing power, and they're spending more on beauty products," says Carrie Mellage, director of the Consumer Products practice for Kline's research group. "But because value is still important, companies that offer quality products with midrange price points are among the fastest growing in the market."
Additional information on Kline's Global Cosmetics & Toiletries program is available here.
