1 The Cosmetic Industry
1.1 Cosmetic product consumption
Human beings are naturally very conscious about their health and beauty. Though the intensity of this varies depending on the countries, gender, culture etc. And for majority the term ‘ beauty ‘ means to have a healthy skin and hair. So even before the discovery of the newly made chemical formulas people have found different ways to exist beautiful.
And today the magnitude if this consciousness have increased tremendously, and as a result there are lot of products made by different companies and further the frequency of a forming a new company in cosmetic industry is also increasing.
According to the latest market research from Lucintel, rising consumer incomes and changing lifestyles …show more content…
The use of tag “ natural “ is something every consumer now look for in the product they purchase, it can be food, apparels and medicine etc.
The study conducted by Natrue reveals that 80% percentage of the cosmetic consumers had a risk avoidance and altruistic approach in buying natural and organic cosmetic products. Hence most of these consumer demand the detailed information of the ingredients used in such products.
And this forced these companies to get their product certified as organic. Because it is the certification that people use as a source of authenticity of the product and company.
2 The Company
2.1 Ecco Bella Sally Malanga founded this company as a protest against the use of animal for testing cosmetics. And she expanded her mission to inventing natural beauty products from the universe of organics and nutraceuticals. The company have developed different products under skin care, hair care, Body care, Make up and perfume. 2.2 Products to be exported
After the Market analysis, Ecco Bella decided to export the product under the following category:
1. Skin Care
2. Body …show more content…
And other demographic studies shows that over 60% of the population is young. The studies shows that over SR 60 billion is estimated annually in cosmetic market with annual growth rate of 11%. This shows that Saudi Arabia is the potential market for investors in cosmetic industry.
With the young population more exposed to internet, there is a market shift in the attitudes of the consumers. They have become increasingly sophisticated and demanding. And further the spending behaviour of the customer also increased tremendously. Euro-monitor discovered that Women in Saudi Arabia spent on an average over 14000 Saudi Riyal annually on cosmetics. And the Skin care products are expected to reach USD 502.9 by 2015.All this indicates that Saudi Arabia will be a hotspot for potential brands to get customers and expand their business.
3.2.2 Trade Regulations
TRADE POLICY
WTO accession 11 December 2005
Trade Policy Review 25, 27 January
1.1 Cosmetic product consumption
Human beings are naturally very conscious about their health and beauty. Though the intensity of this varies depending on the countries, gender, culture etc. And for majority the term ‘ beauty ‘ means to have a healthy skin and hair. So even before the discovery of the newly made chemical formulas people have found different ways to exist beautiful.
And today the magnitude if this consciousness have increased tremendously, and as a result there are lot of products made by different companies and further the frequency of a forming a new company in cosmetic industry is also increasing.
According to the latest market research from Lucintel, rising consumer incomes and changing lifestyles …show more content…
The use of tag “ natural “ is something every consumer now look for in the product they purchase, it can be food, apparels and medicine etc.
The study conducted by Natrue reveals that 80% percentage of the cosmetic consumers had a risk avoidance and altruistic approach in buying natural and organic cosmetic products. Hence most of these consumer demand the detailed information of the ingredients used in such products.
And this forced these companies to get their product certified as organic. Because it is the certification that people use as a source of authenticity of the product and company.
2 The Company
2.1 Ecco Bella Sally Malanga founded this company as a protest against the use of animal for testing cosmetics. And she expanded her mission to inventing natural beauty products from the universe of organics and nutraceuticals. The company have developed different products under skin care, hair care, Body care, Make up and perfume. 2.2 Products to be exported
After the Market analysis, Ecco Bella decided to export the product under the following category:
1. Skin Care
2. Body …show more content…
And other demographic studies shows that over 60% of the population is young. The studies shows that over SR 60 billion is estimated annually in cosmetic market with annual growth rate of 11%. This shows that Saudi Arabia is the potential market for investors in cosmetic industry.
With the young population more exposed to internet, there is a market shift in the attitudes of the consumers. They have become increasingly sophisticated and demanding. And further the spending behaviour of the customer also increased tremendously. Euro-monitor discovered that Women in Saudi Arabia spent on an average over 14000 Saudi Riyal annually on cosmetics. And the Skin care products are expected to reach USD 502.9 by 2015.All this indicates that Saudi Arabia will be a hotspot for potential brands to get customers and expand their business.
3.2.2 Trade Regulations
TRADE POLICY
WTO accession 11 December 2005
Trade Policy Review 25, 27 January