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Natural cosmetics are in fashion

19 November 2009 / 12:11:14  GRReporter
2927 reads

Greeks definitely prefer natural cosmetics as opposed to brand ones, which report a 8% fall in sales. “Natural cosmetics market is developing faster than the other categories,” notes Panayotis Spiropoulos, director of Korres and adds that most likely this is due to the fact that they are sold in pharmacies, which are untouched by the crisis. The profit of natural cosmetics sold in 7000 pharmacies in Greece is between €70 and €80 million.

Another factor for the fast moving market is the more accessible price of natural cosmetics in comparison to the brand ones. Due to the hard economic condition of consumers, they cut their budgets, save from luxurious goods and change from expensive cosmetics to natural ones.

Despite the crisis natural products sell, because more and more consumers take interest into the ingredients. This is why big companies in this sector have invested in developing new natural based products. Example for this is L’Oreal, which developed a new series of products called Kiehl’s. In Greece this series can be found only on the Kolonaki store Hondos.

It is expected that next year the natural cosmetics sales will not go down, because the same trend is noticed in other countries around the world. According to experts the annual sales increase of natural cosmetics will vary around 15% in comparison to the brand ones, which will probably fall with 2% in the upcoming years.

Biggest natural cosmetics demand is in Germany and the US, where sales take about65% of the cosmetics market. This is a very good niche market for the Greek company Korres, which not too long ago signed a contract with Johnson&Johnson for distributing its products in North and South America. Let us note that the hair natural products in the US increase annually by 25%. In Europe only 25% of natural based products are being sold in comparison to the rest of the world, where Germany holds the leading position in sales with 45%-50% in Europe. 

Tags: Korres natural cosmetics L Oreal
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