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section of products, the usage of products containing plant acids, herbs, vitamins, botanical extracts and of late the inclusion of ingredients like chocolate and fruit extracts in beauty products. Anti ageing products with active ingredients have become very popular with individuals, who require the need to fight off signs of ageing due to sun damage, smoking, pollution and basically day to day stress. One of the fastest growing areas in beauty business remains to be cosmeceuticals; these products cannot be defined as cosmetics but they are not formulated or regulated as OTC/drug products, originally introduced as prestige skin care products they have increasingly crossed over into other areas like hair care , make up and the development of other multifunctional products. There has also been a considerable boom in teen products which roughly accounts for about 20% of the cosmetics and toiletries market. Other forms of products like natural/ organic, skin care and hair care have proved to be on the rise considering the environmental, ethical concerns and the general awareness. (Beauty Industry Trends)
The internet is a fairly recent distribution channel that has entered the cosmetics industry. Considered once a medium that was dismissed since it was believed that consumers would never purchase cosmetics online, today it is one of the most powerful indicators of success among many of the major brands in the industry. There exists three different types of vertical markets in the industry namely mass market, prestige market and direct sales. These markets do exist online however none of them have created major dominance in e commerce as of yet... the mass market enjoys a wide distribution of its products in a chain of drug stores, grocery stores and mass merchandise stores like K-Mart of Wal-Mart, prestige products are available in high end retail stores like Macy’s or Bloomingdales and the final category is available through a direct sales force, all of these
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2 Pages(500 words)Admission/Application Essay
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