The Beauty Of Cosmetics Stores Essay

700 Words Sep 4th, 2015 3 Pages
The Beauty, Cosmetics Stores industry is comprised of retailers selling predominantly cosmetics, and other personal grooming products. As of 2015 the industry has maintained its economic recovery as a result of product innovation and market expansion with industry revenues reaching 5.8% per year on average to generate over $19billion. IBIS World reports the industry in expected to expand as the economy improves and consumers begin leveraging more disposable incomes toward personal spending and high-end products. The good news for the industry is while the products are improving and expanding so are the market demographics, which today include more and more men and teenagers looking for current cosmetic styles, skincare regimes and hair products.

Although the larger sized stores are replacing the small scale stores, which have dominated the markets, consumers are still looking to shop locally within the community and purchase quality products are discounted prices. As technology improves and online purchasing increases, ecommerce will compete for this market segment, yet community stores have the ability to cater to the neighborhood off setting and dominating a particular market demand. Heading in to 2020 the industry is expected to grow at an annualized rate of 4.9% reaching revenues of $25 billion dollars from consumers.
The Business Concept:
Black Diva Beauty Supply believes there is an existing disparity for small business ownership in specialized beauty supply…

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