Marketing data and analytics company Kantar has announced the launch of a Cosmetic Panel – a continuous tracking system born in December 2022 for consistent consumer insights on the Indian cosmetics market.
This panel will track and report purchases made in four broad categories – face, eye, lips and nails. It covers 3000-plus women aged 18 to 44 years, covering NCCS A & B in 10 and 10 lakh-plus population Indian towns. The panel will report data at a monthly level.
Kantar revealed some highlights from the inaugural leg of the Cosmetic Panel Report:
- 42 pc females purchased at least one face makeup product in the last 10 months, translating to INR 1,120 crore in spends.
- 33 million packs of eye makeup were bought in the last 10 months, 24 million of these were for eyeliners and kajal. The rest comprised of mascara, eye shadow, eyebrow pencil.
- 70 pc of lipsticks bought today are still the traditional bullet lipsticks, as liquid lipsticks are yet to become a significant player in this category.
- 40 pc of cosmetic shoppers shop online, however only 7 pc shop online exclusively. While convenience is important for cosmetic product purchasers, try-and-buy continues to remain important and relevant for most.
K Ramakrishnan, Managing Director – Worldpanel Division, South Asia, Kantar, said, “Cosmetics are on a positive wave right now, and we are absolutely delighted to be able to track this wave with India’s only robust Cosmetic Panel, using new age technology. The panel is a first of its kind where we employ Artificial Intelligence to increase the accuracy of the data inputs as well as for quality checks. This will ensure that the brands in the cosmetics category get real-time, accurate and insightful data to inform their strategic decisions.”
This panel has multiple stages of data quality checks like:
- Real time data capture at the purchase occasion through a 100 pc self-filling application.
- Capture through images and visuals.
- Image and barcode-based matching at the backend.
The panel will also introduce an AI-based image decoding feature in 2024 to increase accuracy and credibility of the data even further, informed an official statement.
Feedback: [email protected]
