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Amazon to See Double-digit Growth in Beauty Over the Next Five Years

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Woman shopping online for makeup

Edge by Ascential has released its Health, Beauty and Personal Care report, meant to provide industry professionals with highlights of recent sector trends and developments. 

Data for the report was drawn from the Retail Market Monitor, with forecasts extended to 2023.

According to the report:

  • Consumer spending on health and beauty is increasing globally, with Asia-Pacific driving most of the growth. 
  • North America is currently the largest region in terms of spending, accounting for 36% of global revenue. While strong growth is projected, its share will decline to 34%.
  • Walgreens and CVS dominate the health & beauty sector, contributing to 64% of the top 10 specialists’ sales in 2018. The companies are also driving innovation in the health & beauty sector by introducing more in-store digital solutions and services.
  • Among the top 10 health & beauty specialists, the ecommerce channel currently contributes only 1.5% of total sales. However, this is set to grow at a faster rate than store-based retail, with a CAGR through 2018-2023e of 15%, compared to 4% for store-based sales.
  • Amazon and JD.com are projected to see double-digit growth in health and beauty over the next five years, resulting from a range of recent initiatives such as Amazon’s launch of a private label beauty range.

For the full report, please visit www.planetretail.net