A recent HKTDC Research study found that 81% of the Thai consumers surveyed planned to spend more or about the same as they do now on skin care and cosmetics in the next three years. The affluent Thai middle class has an insatiable appetite for fresh new beauty products.
The study also discovered a few trends in Thailand’s beauty and personal care products market. The growth of the market is being driven by the ubiquitous social media usage, bringing a whole host of new opportunities and challenges with it. The most obvious change is that social media has provided a new way to target more refined target segments of consumers. Focus group respondents indicated that they usually discover new brands or products via social media, and are more likely to give products a try if user reviews are positive.
Holistic approach to beauty