Emerging economies spend big on up-market beauty products

Cosmetics and toiletries have long been benefiting from growth in markets with low penetration rates such as the emerging economies of Latin America, Eastern Europe and Asia-Pacific, generating high value gains through increased demand for low-priced essential items. Yet these markets are not just catching up in terms of consumption of necessities but are aspiring to the comfortable Western lifestyle by increasingly splashing out on up-market, prestige products. Conspicuous consumption is all about leaving the tough economic times of the recent past behind and reveling in newfound wealth. It is also a mentality that links price with efficacy, as historically the low-priced beauty products available on these markets were predominantly of substandard quality.

beauty , products