To respond successfully to the needs of Thai consumers, brands need to understand their priorities and desires, and how these are evolving. Diving deep into the categories that are driving FMCG growth helps to paint a picture of this.
In this second in our series of mini reports on the prospects that lie ahead for Thailand’s FMCG sector, we focus in on the trends that are shaping the facial beauty category. This is an extremely dynamic sector – in particular the facial care and makeup segments, which have seen impressive year-on-year value growth of 12% and 11% respectively.
As Thai consumers prioritise these sectors, they are shifting spend away from others. Meanwhile, the trend of ‘building beauty from within’ is strengthening, and consumers are eagerly trying new brands and products in the pursuit of this goal. This is eroding loyalty and increasing fragmentation.
There are opportunities for facial beauty brands of all sizes – from emerging players to sector stalwarts – to grow, however, through strategies including innovation and optimising their online presence.
