The global beauty industry was valued at US$ 379 billion in 2013. What’s more, sales grew by 5% in 2014 and revenues are set to increase to US$ 461 billion by 2018.
Without any doubt, the beauty industry has enormous potential. However, the recent departures of Western brands from China emphasize that every market has its own challenges and requires a tailored approach.What does it then take to appeal to consumers in different markets and maximize growth? To answer this question, Motivaction put its Glocalities segmentation model to work. People’s behavior and opinions are shaped by value orientations that are deeply embedded within persons and society. Glocalities identifies 5 distinctive values segments, each of which has a local flavor and tells the hidden story under the surface.
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