The demand for cosmetic products is trickling down to rural areas with rising consumer awareness, says RNCOS.
Indian cosmetic industry has been witnessing rapid strides over the past few years. The aggressive marketing and distribution strategy being adopted by companies are opening gateways for the companies to tap new markets. According to a new report by RNCOS, “Indian Cosmetic Market Outlook 2018”, various companies, like Revlon, are expanding their reach to rural markets to take on its rivals, so that it adds to its strength.
The growing demand for cosmetic products in the rural markets is provoking several manufacturers to introduce fairly priced variants at supreme quality through their supply chain networks. For instance, Revlon is rolling out new brand of colour cosmetics priced about 60 percent cheaper than the existing Revlon range, in order to expand the reach to smaller towns. Further, companies like HUL has developed a strong presence in rural markets due to its Shakti network wherein the male members of the network distribute the products on bicycles, propelling the sales of its products.
The massive potential in rural areas would provoke more number of companies to establish their networks in these areas. Clearly, rural markets have become a potential market for many companies.