Personal care will be one of the fastest growing categories in the electricals market over the next five years as innovation drives consumers to purchase.
For retailers, the Personal care electronics (PCE) market offers revenue growth potential while some other electrical categories stagnate, according to GlobalData, a data and analytics company. The PCE market is forecast to grow by 17% over the next five years compared to an increase of 8% in the overall electricals market. Growth in PCE will be driven by the fast- expanding beauty tools category which comprise products such as electrical facial cleansers, acne Intense Pulsed Light (IPL) devices and electrical body contouring devices.
In the rst half of 2018, the hair dryer category grew 11% by value
Zoe Mills, Retail Analyst at GlobalData, says: “The PCE market is set for double-digit growth over the next ve years. This market is increasingly supported by YouTube stars and beauty bloggers, with these individuals now instrumental in promoting freshness in the market, and incorporating more PCE into their posts.”
In the first half of 2018, sales in the hair dryer category were worth€900 million
With replacement cycles as long as three plus years, newness in the beauty tools market encourages consumers to purchase more often. Innovation is also a key driver of first-time purchases in this category; for example, 58.1% of beauty tools purchased in the past year were a first-time purchase, according to Global Data’s 2018 study.
Mills adds: “Of the PCE subcategories, hairdryers have the lowest level of first-time purchases at 19.7%. While there has been some innovation, namely with the Dyson Supersonic in 2016, little has changed in this market to entice shoppers to purchase outside of their replacement cycles. Historically, only premium brands have offered beauty tools along with premium price tags, but prices are beginning to fall as midmarket brands invest in beauty tools as well. This is opening the market up to a broader audience”
Sales increase for small connected appliances in 1st half of 2018