Kantar has unveiled a groundbreaking cosmetics panel in India for the first time. It is set to transform consumer insights in the Indian market. Read more to know about this strategic entry into the beauty industry.
In a pioneering move, Kantar, the globally renowned marketing data and analytics powerhouse, has introduced the groundbreaking Cosmetics Panel. It is aimed at unravelling the complexities of evolving consumers within India’s thriving beauty sector. The initiation of Kantar’s Cosmetics Panel addresses the growing demand for reliable insights into the dynamic Indian cosmetics market. There is a cosmetic market surge in India and the Kantar panel is all set to study the insights.
INDIA’S FIRST COSMETICS PANEL
This innovative panel consists of over 3,000 women aged 18-44 from NCCS A & B segments across Indian towns. The panel meticulously observes and reports on purchases within four expansive categories: face, eyes, lips, and nails. Kantar’s technologically advanced approach ensures the delivery of exceptional data quality through real-time data capture. Acquiring data at the point of purchase involves image-based data acquisition and barcode matching.
UNPARALLELED ACCURACY
The Cosmetics Panel employs cutting-edge technology. It also plans to introduce an AI-based image decoding feature in 2024, enhancing data accuracy. K. Ramakrishnan, Managing Director of World Panel Division (South Asia), Kantar is in charge of this panel. This novel panel stands as India’s sole robust platform utilizing artificial intelligence for data accuracy and quality assurance.
INAUGURAL INSIGHTS FROM THE PANEL
- Over the past 10 months, 42% of women have invested in face makeup products. It resulted in a substantial INR 1,120 crore (USD 136+ million) expenditure.
- Eye makeup purchases reached 33 million packs, with 24 million dedicated to eyeliners and kajal. The remainder included mascara, eyeshadow, and eyebrow pencils.
- Despite the influx of liquid lipsticks, 70% of lipstick purchases adhere to the traditional bullet format in India.
ONLINE SHOPPING TRENDS
Observers noted that, although 40% of cosmetics shoppers prefer online channels, only 7% shop exclusively online. The ‘try-and-buy’ approach remains relevant, emphasizing the importance of convenience in cosmetics purchases.
Kantar’s Cosmetics Panel promises real-time, accurate, and insightful data. It ensures brands in the cosmetics industry make informed strategic decisions in this era of transformative consumer behaviour.