Ginvera Background

BACKGROUND

For the purpose of our study our group will be focusing on Ginvera Moisturizers, wholly owned by LD Waxson (s). Over the years, people are becoming more image conscious and in turn becoming more knowledgeable and aware of skin care. People’s importance given to their appearance along with the introduction of new technology has paved the way for this Skin Care segment’s ascent.

SKIN CARE INDUSTRY

We have seen that Skin care increased by 5% in value sales terms in 2013 to become a big part of the cosmetics industry. The global skin care industry revenue has been forecast to reach an estimated $102.3 billion in 2018 with good growth over the next five years.

The skin care and facial moisturizing industry has seen new and emerging trends that we will be talking about briefly to get an overview into the industry. Consumers, especially women, are becoming increasingly beauty-savvy and are more willing to splurge on good-quality skin care products, which are perceived to give better and safer results. From our research we also found that skin care products positioned as whitening continued to gain in popularity in 2013. Major players in the market also focused on anti-agers and positioned themselves as giving glowing and hydrated skin. We also found that consumers’ decisions are likely to be influenced by the reviews of bloggers and other consumers through beauty forums.

International brands are likely to remain the major contributors to value sales in skin care 2013-2018. This is due to their constant launch of new products and strong positioning among consumers. The top five players – L'Oréal (S) Pte Ltd, Procter & Gamble (S) Pte Ltd, Estée Lauder Cosmetics Pte Ltd, Beiersdorf (S) Pte Ltd and Shiseido (S) Co Pte Ltd are all international companies and constituted 48% of value sales in skin care in 2013. The skin care brands are L'Oréal by L'Oréal Pte Ltd, Olay and SK II by Procter & Gamble (S) Pte Ltd, Estee Lauder skin care products, Nivea by...