The health & beauty related products are gaining more attention in the modern era and totally transform the livelihood and defines the status of the consumer. The retail market of beauty and health products is growing more significantly with the effective establishment of e-commerce platform. The key players are producing more effective products as the customers are becoming more health conscious and enhance the market more effectively. Furthermore, many major key players are introducing new technologies on the sites for producing the product on a reasonable price which also can defeat the demand of the customers more effectively and can attain the handsome amount of share in the retail market of health and beauty category group. Meanwhile, the increase in disposable income and development in the economy lead the market growth more significantly in the near future.
According to the report analysis, ‘HEALTH & BEAUTY RETAILING IN SAUDI ARABIA, MARKET SHARES, SUMMARY AND FORECASTS TO 2022’ states that some of the major companies which are currently functioning in this domain with the significant development in the technology for acquiring highest share in the retail market which includes Al Nahdi, Al-Dawaa pharmacies, Arabian Oud, Gazzaz, Magrabi, Abdul Samad Al Qurashi, Panda, Zohoor Al Reef, Bath & Body Works, Lifestyle and several others. The Al Nahdi is the major market leader which is driving the growth from surging online sales. Not only has this, the report also consists effective relative information which includes deep analysis of the new latest trends in the consumer behavior, consumer insights, changing economic and demographic factors, technological innovations, macroeconomics factors, market dynamics and covering the factors driving shopping. Furthermore, the report also contains the qualitative and quantitative insights of changing retail dynamics in health and beauty sector.
Saudi Arabia retail market is anticipated to grow at a CAGR of 7.3% during 2017-2022 with the government initiatives to strengthen healthcare sector which is fueling the growth in sales. Moreover, the rising number of women in the workforce will turned up the sales of this category. Furthermore, the aging population is also growing which is boosting the demand for healthcare products more effectively. The store of drugs and health & beauty stores anticipated for the highest share during 2017-2022. With the online platform the options of easy return and convenient payment options are enabling the demand of these product which fueling the growth more significantly.
The key players are forming so many strategies and policies for making the market more competitive and acquiring the effective market share by the time. Moreover, the key players are forecasting the behavior of consumer in health and beauty category for attaining the best opportunities and develop a competitive advantage from the start of supply chain. With the competitive nature of market the investors are investing more in the market for developing the insights. Moreover, the key players are exploring the novel opportunities for meeting the demand by analyzing the wide economic and population trends. Therefore, in the coming years it is expected that the retail market of health and beauty products will grow more significantly over the decades.
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