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Russian professional cosmetics market in facts and figures
Even moderate estimations on Russian professional cosmetics market give substantial figures. According to Cosmetological scientific research center, professional cosmetics market equals 10% of the total Russian perfumery and cosmetics sector (Euromonitor values perfumery and cosmetics market of Russia as US$4 bln). The Russian professional skin care market is estimated at US$45-50mln and professional hair care at US$120 mln (in distributing prices).
Variety of professional cosmetics offered in a salon depends on the class of beauty establishment. According to ExpoMediaGroup Staraya Krepost, in middle-class salons the assortment of skin care is rather small as compared to that in high-class establishments. This fact is explained by scanty offer of professional skin care at reasonable prices and thus low popularity of skin care procedures in middle-class salons. On the opposite, body care cosmetics is very popular, because middle-class salons offer a great variety of body care procedures at moderate price. In most cases the decision on what cosmetics to choose for a salon is made by a person having medical education, as Russia is the only country where cosmetologists must have diploma in medicine.
The Russian cosmetics and toiletries market will continue to achieve remarkable growth in the next five years. Euromonitor International forecasts 60% overall market growth, with the skin care sector expected to achieve the most dynamic value increase of 98%. With this market potential, there is no question that Russia presents a golden opportunity for foreign manufacturers.
MARKET ATTRACTIVENESS AT A GLANCE:
- Russian salon clients still believe in better quality of foreign products compared to the nationally made
- The word-of-a-mouth promotion is traditionally high, thus most beauty salon clients purchase professional products advised by their master to use at home
- An average Russian woman spends 12 percent of her income on cosmetic products, which is 1.5-2 times more than an American or European woman.
- People put more trust in cosmetics bought through drug stores and beauty salons
- Unsatisfied demand in professional skin care at reasonable prices