Recession Continues To Dampen Japanese Beauty, Personal Care Market

Market analyst Euromonitor reports that the Japanese beauty and personal care market is enduring stagnant sales, even among traditionally downturn-resistant skin care products, thanks to the recession that began in 2008. Sales of cosmetics and personal care products in Japan dropped by one percent in 2010, compared to a two percent slide in 2009. Job insecurity and a dismal economic outlook have instilled a sensitivity to price, causing a swing toward cheaper mass products. And consumers willing to pay a premium for high-end cosmetics are looking for quality products that deliver value. The trend toward price-consciousness will probably push manufacturers to trot out products that will appeal to the mass market, intensifying competition. Also, greater interest in effective anti-aging solutions will likely force manufacturers to back efficacy claims with scientific evidence.