Health and Beauty Retailing in Belgium, Market Shares, Summary and Forecasts to 2022, a report published by GlobalData, contains market insights on the retail sector for health and beauty products in Belgium. It provides a detailed analysis considering each of the market factors such as consumer preferences, demographics, consumer trends, technology and changing economic factors, simultaneously discussing the historic data on the sector. The report also contains information on the major retailers in the product category and their product proposition and market positioning as well as their key developments.
Belgium is one of the most densely populated and highly industrialised European country, with a population of about 11.3 million. It is made up of three regions: Flanders, Wallonia and Brussels- each culturally unique from the other. Belgium’s retail environment had been negatively affected in the past, but in last few years it has started to recover and is showing some positive growth which will seemingly continue as per the report. Belgium retail market is forecasted to grow at a CAGR of 2.2% during 2017-2022. However, there will be comparatively little growth for the health and beauty segment during the forecast period.
Health and beauty retailing is the fourth largest retail segment in Belgium. In the past, Belgium has been an ideal test market for the companies before they entered the larger European markets- credits to its geography and location, which allows exposure to diverse set of customers in the same market. With increase in the globalization, favourable regulatory environment and competitive market, new foreign players with presence in Western Europe has now entered Belgium. This increase in market competition, have led to increase in the expansions of the chain retailers. Internet infrastructure in Belgium has developed fast, yet the e-commerce adoption is still in the nascent phase. Internet retailing, particularly in case of health and beauty, has not yet been fully exploited and marketers see a slow growth in next few years.
This serves as a benefit for the specialist stores that are still the dominant players in the market. Traditional retailers have however shown signs of moving to the omnichannel route, which might increase the online offerings of the segment. The demand in the sector has been majorly driven by the aging population. An awareness and desire for better health and skin care have contributed to this. The beauty products have also been the high demand segment due to more beauty conscious set of consumers who want to be presentable all the time and have a more open desire for self-expression. Other economic factors like higher wages, disposable income and better living standards continue to be the growth drivers.
Amongst the major market players, Pearle had the highest sales in the year 2016-17. As per the analysis, Carrefour and Kruidvat are the lead the health and beauty sector. Other market players covered in the report are: Carrefour, Kruidvat, Colruyt, ICI Paris XL, Di, Multipharma, Aldi, Lloyds Pharmacy, Pearle and Familia.
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