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Euromonitor Reveals Top Trends in Turkey in New E-book
Posted: September 9, 2013
A new e-book from Euromonitor International is shining a light on the hot trends in upcoming emerging market Turkey. Top Industry Trends in Turkey delves into various industries in the Euro-Asian country, including apparel, retail, tissue and hygiene, travel and tourism and more, as well as beauty and personal care.
Specifically for Turkey's beauty industry, the e-book notes, "Beauty and personal care remained resilient during the economic crisis with expected growth at a constant value CAGR of 11% from 2012 to 2017." Growth is expected in market segments including oral care, sun care, color cosmetics, fragrance, and baby- and child-specific products. Additionally, the e-book shows how the increased spending power of women in Turkey, pushed by better education and more women entering the workforce there, will likely lead to more modern lifestyles. "This in turn will generate interest in personal hygiene and self-grooming products and encourage companies including direct sellers, to invest in expansion into urban areas," the report covers.
For the type of beauty products Turkish consumers are seeking, the e-book relates, "Home treatments will remain an economical and faster solution than salon treatments, driving sales of home beauty products." Key products in this market include hair removers and bleaches, as well as skin care options, anti-aging in particular. Also, more advertising and promotions are expected to urge sales for 2-in-1 products, mascara, foundation, sun care, deodorants, and premium and masstige fragrances, among others.
The e-book also highlights beauty market leaders in Turkey, such as Avon, predicting, "[The company] will focus on the categories where it already has a high share, namely skin care, color cosmetics and fragrances, and concentrate on launching more sophisticated products, specifically in fragrances and skin care." Additionally, the e-book sees beauty marketing in Turkey keying in on healthier lifstyles and improved life standards, as well product practicality.