When we talk about the cosmetics business, there are trends and ideas coming up every now and then. Nail care and art business is one such trend which is steaming up the Indian cosmetics industry.
The most-preferred cosmetic items are nail polish and lipstick. Both are the most-bought items in the beauty and cosmetics industry of the world. A survey suggests that a woman who owns a moderate amount of cosmetics will have at least 12 different types of lipsticks and 24 different types of nail polishes in her collection. It is an impressive number when other products are taken into consideration.
Both these items together contribute 70% of the sales value of the cosmetics in the Indian market. This is where the leading cosmetic brands are enjoying the profit. A new change is being witnessed with the emergence of nail arts and salons providing innovative nail cares. The nail care business is dominating the markets in India right now with the growth of economy and increase in the dispensable income. In fact, the surge in the market is also supported by the social media platforms such as Facebook, Pinterest, etc where the nail artists showcase their latest creations and create a spur among the aficionados.
Changes in lifestyle and outlook
Women, these days, are concentrating more on their looks and spending more to become presentable. The western world is getting precisely exposed to the beauty and fashion aficionados via the social media platforms. New ideas and latest trends reach way faster than before. Majority of people want to try these nail arts and make a fashion statement in the crowd.
As mentioned earlier, the new surge in economy and adoption of the western lifestyle have supported the growth of the nail care business in India. Women are becoming more independent and aware of their looks. They are investing high amount of money from their disposable income to groom themselves and look more attractive. Due to the high professional competition in the job sectors, majority of mass is considering their looks as an important attribute of their character. This is serving as the best opportunity for the beauty salons to grow their business by adding a different concern, nail care business in their regimen.
Huge opportunities for small investment
The best part of this nail art business is that the setup will not need a huge makeover of the existing place. The utilities are not high-priced. The entire investment will be absolutely nominal which will bring better ROI in no time. The service rates are pretty high and women availing these services knew it well. The reason behind affording the nail care services and nail art designs is the growing consciousness of the contemporary womenfolk. They are not limited within the boundaries of a house. They have been showing their capabilities in parallel with the men at work.
As per Dr. Blossom Kochhar, leading beauty expert and cosmetician, “Consumers are becoming more appearance-conscious with 7 per cent more global consumers attaching importance to looking good in 2012 as compared to 2008. Beauty consciousness has dawned on rising affluence. With an increase in the number of households upgrading to a higher consumption lifestyle, there is an explosion of growth in the nail care business and consumer awareness. Everyone wants to know which polish will give the longest wear without chipping or fading.”
The growing affluence is also patronizing the crowd to pursue new trends and look different. These facts are true for men also. The grooming industry for men is growing at a substantial rate too.
Some of the most-sought names in the Indian market are Nails Mantra, Nail Spa India, Nail Bar, etc. Among the emerging names, Nail Bar is around 12 years old and has got immense experience in this aspect. On the other hand, Nails Spa India has got more than 20 outlets spreading all over India. Gurpreet Seble, COO of Nail Spa India depicts that the ladies of age between 11 years to 75 years are availing the nail care services. Each service might cost INR 5000 or more.
The prospect of the business is pretty high as the revenue generated per service is quite a few times more than the expenses. The service rates are becoming more affordable for the customers due to competition and newer techniques. In a nutshell, the business is witnessing a huge surge in both demand and supply in the subcontinent.