Consumers of today have become increasingly image-conscious with the omnipresence of social media, embracing the so-called digital narcissism popularised by celebrities and influencers on platforms like X, Facebook, and Instagram. According to a recent survey by GlobalData, 31 per cent of Indian respondents stated that social media is an essential influencer of their purchase decision. As such, the Indian market has become attractive for international beauty brands, added GlobalData.
Meenakshi Haran, Lead Consumer Analyst at GlobalData, said, “Consumers increasingly consider looking good to be an important aspect of being successful, undeniably influenced by influencers and celebrity culture, resulting in them being highly image conscious. As many as 57 per cent of Indian consumers admit they are very/quite likely to buy beauty products recommended by celebrities.”
Francis Gabriel Godad, Consumer Business Development Manager, GlobalData India, added, “Consumers conflate their image and status in society as currency, depicted through one’s appearance, purchasing decisions, and brand affiliations. They even view brands as an extension of themselves, prompting players to pay close attention to the values and aspirational traits their products align with.”
Meenakshi Haran continued, “Typically, the desire to look and feel good is high among young consumers, who seek to align with brands popularized by celebrities and whose values they identify with. As many as 56 per cent of Gen Z and 65 per cent of Gen Y respondents are very/quite likely to buy products recommended by social media/YouTube influencers.”
The large youth population in India, couple with its high internet accessibility, makes the country an attractive market for international beauty brands. Kylie Cosmetics by Kylie Jenner recently announced its entry into India to capitalize on the country’s youth.
Francis Gabriel Godad concluded, “India’s cosmetics and toiletries market is expected to witness robust growth of CAGR between 5–7 per cent in the future, suggesting the prospects offered for beauty brands operating in the country. This potential will attract more brands to venture into the Indian market in order to drive sales in the coming years.”