Last updated: Sep 18, 2020 | 283 Views | MARKETING
Start a business! with Beauty market
From the situation of COVID 19 Causing the economy to slow down Causing business operations to be in a state of pause Some businesses that did not meet their expectations and had to shut down unfortunately. Some even had to leave their jobs due to the insecurity of the company.
From this problem many people turned Are some online sellers,do some of their own business or even company employees who want to earn more by building their own brand. But what products do we decide to start a business owner. So that we can run our business successfully. It is something to think hard and very challenging. But what is surprising is that in this business industry not affected by this covid19 problem and it continues to grow: the beauty industry. Which is a very competitive market Regardless of the economy problem or politics it can't cause the beauty market to fall.
Today AT-ZE is recommended for many people who want to start their own business in the beauty market industry. What are the reasons and trends in doing business? Let's have a look.
From the Center for Economic and Business Forecasting University of the Thai Chamber of Commerce and Ines Caldera, Managing Director of L'Oréal (Thailand) Co., Ltd., cited from the statistics that Overview of the beauty market in Thailand in 2019, it is a popular rising star business And growth from the previous year by 6.7%, with a total market value of 2.18 billion baht and can be subdivided into the beauty products category as follows
In addition, there are factors that promote growth in the beauty business:
The opening of the AEC expands the market.
From the trend of love health and beauty that has continued. People are becoming more and more interested in taking care of themselves. This makes the country more demanding products in this industry to meet their needs. And many businesses were born Until expanding to foreign countries in the AEC region, which is considered to have a good response. Which the value of the health beauty market has a turnover value of at least 12,000 million baht per year. And it is expected that this year It is worth more than 20 billion baht, partly from Thailand and the Asian region have raw materials that are used as extracts. And has properties that take care of health and beauty in abundance Therefore making the cost lower than other countries that have to import Therefore, the health and beauty market is growing rapidly.
For overview and direction of the beauty market in 2020, the Managing Director L'Oréal (Thailand) said that the current situation is a challenging time for any business. Including the beauty market Which this year has had a lot of challenges And it is difficult to predict the overall picture of growth. Because still don't know When will consumer confidence and purchasing power return? What will happen when they come back? How fast to consume What will the purchasing power be?
The big challenge for this business, in addition to the purchasing power of consumers, is that consumers must wear a mask. This may have an impact on the makeup market that has grown very rapidly over the past year. But there may still be opportunities in the eye makeup section While the skin care and hair color group Including a group of products used to cleanse the body It is still a growing market that can create great opportunities for businesses.
This year's market, if stable as the previous year, is considered OK. It can be a little minus or a plus. And Thai consumers themselves Has a high purchasing power compared to consumers in ASEAN. Which is at a high of 3,000 baht. Comes from buying a brand that is known to be trustworthy. Or an outstanding research invention More than the price And now customers buy products that contain light ingredients to make them feel comfortable while wearing the mask. Unlike before COVID 19 Who like a lot of ingredients Which is one of the new normal.
How are you doing? Today AT-ZE has recommended for those who want to start a business in the beauty market. Which can be seen that In this industry it is growing steadily. From the trend of love health that comes with beauty And is hardly affected by any situation. But there are still many challenges from the rise of the beauty business in Thailand. Which is recognized as a colorful business amid the fierce competition of entrepreneurs Who is the owner of the brand, but At Sea believes that if anyone wants to create a brand, this is definitely successful.