LONDON--(BUSINESS WIRE)--Industries across the world have seen the sharpest declines in decades over the recent months. Since the COVID-19 outbreak , economies, consumers, and markets have been gravely impacted. The personal care products market is suffering in these challenging times. Consumers have lesser disposable income, and this has led to a shift in buying behaviors. With an increased focus on essentials, other personal care product categories are witnessing a decline. How can personal care products market players address this challenge? Infiniti’s trend analysis enables companies to forecast changing market dynamics and evaluate the potential impact on business operations. During the COVID-19 pandemic, Infiniti’s experts have helped personal care products manufacturers overcome various industry challenges and maintain business continuity through these trying times.
To efficiently address the COVID-19 pandemic challenges on your business and enter the post-COVID era as an industry champion with the help of Infiniti’s trend analysis experts, request a free proposal.
“While many personal care products are essential, several others are not, prompting consumers to make alternate choices. Such changes in consumer consumption can have a profound impact on companies operating in the personal care products market,” says a retail & CPG industry expert at Infiniti Research.
The client, a personal care products manufacturer, was left behind among the market's rising competition due to their reactive approach to changing market dynamics. Increasing competition led to a notable decrease in the client’s market share, and their strategies became obsolete. To address these challenges, the personal care products market client chose to partner with Infiniti Research. Our experts aimed to tackle other challenges, such as identifying recent innovations and evaluating trends in the market. During the twelve-week engagement, the client also wanted to understand their customers, analyze the gaps in their operations, and identify new marketing channels to optimize sales.
Infiniti’s experts developed a comprehensive approach that combined primary and secondary research to assist the personal care products market client. The approach included the following:
- 100+ telephonic discussions with experts and customers in the target market for the personal care products market, and a compilation of data from reliable secondary sources, such as industry news, public databases, and other research materials
- An industry trend analysis to identify crucial and recent technologies, innovations, and ingredients, and to help the client assess the benefits and challenges of the latest trends and prepare accordingly
- A risk assessment strategy was conducted to enable the client to identify potential market threats and develop strategies while accounting for or addressing the relevant risks.
- The client was provided comprehensive insights on marketing strategies leveraged by competitors and industry leaders with the help of our competitive intelligence solution
- The experts also conducted a market intelligence engagement to help the client identify the appropriate channel strategy and gain an in-depth understanding of changes in their target consumers’ behavior
Speak to industry experts to understand the advantages of forecasting and strategizing for upcoming trends and potential risks in the personal care products market.
With Infiniti’s experts’ guidance, the personal care products market client efficiently monitored recent market innovations and technologies, and other recent trends in the EMEA region. Additionally, with the data provided, the client successfully restructured its innovative pipeline, product launch plans, and pricing strategies. By identifying potential risks, the client developed appropriate strategies to address and mitigate risks early. The company also invested in a growing product category and various strategies to compete with industry leaders based on our experts’ recommendations. The personal care products market client established themselves as one of the top brands in the EMEA region and recorded a 30% increase in their quarterly profits over the two following consecutive quarters. Lastly, the client witnessed a 17% increase in their per-unit sales within six months and strengthened their market share in the EMEA region, consequently.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us