Beauty, Cosmetics & Fragrance Stores in Canada
The Beauty, Cosmetics and Fragrance Stores industry is expanding rapidly as consumers opt for specialized beauty stores to alleviate their aesthetic concerns. Bolstered by economic recovery, consumers are using their heightened disposable income to purchase industry products. While economic recovery has amplified industry revenue and returns over the past five years, demand has been largely guided by shifting consumer habits. Equipped with user reviews and increased disposable income, consumers are looking for results and electing to purchase products from industry establishments that offer a wide selection of brands and knowledgeable staff, in place of department stores and drug stores that offer similar products and train staff to sell only one particular brand. Positive consumer trends are expected to persist over the five years to 2022, bolstering revenue. As economic activity recovers domestically and internationally, consumers will feel more secure with the economic outlook and personal finances, enabling them to make more discretionary purchases on items such as beauty products. However, heightened competition from online retailers is anticipated to suppress growth.
Operators in this industry sell a variety of personal-care products, including cosmetics, perfume, hair care, skin care and related items. This industry’s target market includes household and professional users of industry products, including hair stylists and makeup artists.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.