UAE consumers spending as much on cosmetics as rent
The survey carried out on 496 male and female consumers in March found drivers of the segment to be high a strong shopping culture, increased personal incomes, a strong social pressure to look good and an influx of tourists.
According to DMG, the high demand can also be attributed to the rising trend of men beginning to use a widening range of cosmetics. “Consumers want to stay on trend, 23 per cent of the respondents admitted to buying a new product every month.”
The report has been published by the international exhibition and publishing company in the run-up to the December launch of Life & Style Show UAE, a consumer event expected to attract 51,000 visitors. The event will comprise of seven individual divisions, including one specific to fashion & beauty.
UAE market booming
According to market researcher Euromonitor, as of 2012, consumers spent the most on mass cosmetics, with the average person setting aside AED245.3 a year. Premium cosmetics were the second-most popular, and daily spend on personal care is expected to rise by 13 per cent per person by 2017.
This news comes at a time when the UAE’s beauty industry is booming, as the country’s cosmetics market has been predicted to reach USD$140 (€107) million by 2014.
This figure, DMG says, suggests a growing interest by consumers in international brands and as such, companies are taking advantage of the fashion and beauty boom with a significant increase in exhibitors attending fashion and beauty events throughout the UAE.
Male segment coming into its own
So, as the UAE market is predicted for huge growth, men’s grooming, as aforementioned, is a segment really coming into its own as men pay more attention to how they look, as well as a change in lifestyles and social status, combined with increase expenditure.
According to global management consulting firm TechSci Research, other factors include improved grooming services and the influence of a large base of expats alongside men not being as stringent about using grooming products when compared to the men in other gulf counterparts.
"At present, men's shaving products market dominates the industry in terms of revenues, but men's skin and hair care products are set to experience the highest growth over the next five years, amongst the various sub markets," says Karan Chechi, research director at TechSci.
