According to study, “Health & beauty retailing in Denmark, Market Shares, Summary and Forecasts to 2022” some of the major companies that are working in the health & beauty retailing in Denmark areApotekerenAmba, Matas, A-apoteket, Synsam, Netto, Specsavers, Super Brugsen, Synoptik, Kvickly, Fotex.
In Denmark, health & beauty retailing is a mature market dominated by local players, where international companies have a relatively small share. This market includes sales of all types of goods and services in pharmacies, drug stores, beauty retailers and perfumeries.The major products sold in country are the beauty products because one in three women purchases beauty and personal care products online. The best-selling products in the health and wellness category are perfumes, followed by make-up, hair care, facial-care and health products. The leading distributors in the health & beauty specialist retailers are through direct selling, hypermarkets & retail chain, pharmacies, e-commerce, specialty stores and salons etc.
Health and beauty retail is an industry characterized by high concentration, rather intense competitionand slow growth. This retailing is heavily dominated by the state controlled pharmacies Apoteket and the Danish specialized retailerMatas.
Some of the recent trends in health & beauty retailing include preference for convenience and value for money features. The fit well positioning for one stop store includes provide a large range of products from many categories at low prices. Trends provide a high chance of appealing to Danish consumers and building customer loyalty. A good framework that brings the market characteristics and firm characteristics together in the internationalization process is the eclectic paradigm or the ownership-location-internalization (OLI) framework developed by Dunning. Ownership assets are unique assets of any kind such as managerial, technological and institutional. These assets shape the market’s competitive advantage and differentiate it from the competitors.
The key factor increasing the health and beauty specialist retailers is the consumers desire to retain a youthful appearance and maintain good looks amongst the general population. The fear of aging has led to the growing demand for anti-aging products in the beauty sector. Huge demand for age-defying and appearance-enhancing skin cosmetics by the elderly population as the need to look and feel younger than their biological age is intensifying. New and effective anti-aging products reduce blemishes, wrinkles, dark spots, and any other marks, to help their face look brighter and younger. Moreover, the development in smart phone and internet across the country has enabled the growth of the specialist retailers for health and beauty products.
Nowadays health & beauty retailing are supported by ready access to information online due to increasing consumer health-awareness and a growing confidence in self-medication. Therefore retailings are turning to online channel and sales from offline stores have declined. In 2017, online share of overall sector sales stood at 42.6%. Therefore the sales volume and value growth of health & beauty specialists are being slow. Beauty items are becoming affordable to every section in the society as the market players adopting business strategies such as EMI and special occasional discount offers.
Revenue in the cosmetics & personal care market amounts is estimated to US$1,288m in 2018. E-retailing is the leading health and beauty specialist retailers in Denmark and will witness a continuing growth over the forecast period. Some key factors driving growth in the market include time-tight schedule of consumers, increasing m-commerce, advance technology, online spending, improving labor market & inflationary conditions, steadily growing economy and favorable demography etc. It is estimated that Optical goods stores will be the most dynamic health and beauty specialist retailers channel by 2017-2022.
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