Away from those irritating blackheads and whiteheads, the survey also found that the other most common concerns among women in Singapore included dark eye circles (58.3% of respondents), visible or enlarged pores (52.9%), dull and uneven skin tone (50.18%), and acne scars (41.9%). These concerns will resonate with all women and an ever-increasing number of men. The good news is that, for each of these concerns, there is typically a range of skincare products that consumers can turn to. And these days, they tend to turn to such products in huge numbers.
Competitive market
Daily Vanity’s survey findings -- which are quite robust considering the survey’s respondent size and likely focused survey questions – are especially useful for entities that sell beauty and skincare products as it can help them shape their product suites to address consumers’ concerns. For instance, it could help a skincare firm differentiate itself from its competitors and develop products in a particular area of skincare to meet demand. This space is getting more competitive with the entry of new brands, the advent of new marketing campaigns and the growing presence of e-commerce channels to buy such beauty and skincare products.
According to a Cosmetics and Personal Care Report conducted last year, revenue in the beauty and personal care category in Singapore was expected at US$1.06 billion in 2019, and the market was projected to grow at 1.7% on an annual basis. With such revenues to be garnered for successful participants, it is no surprise that more companies are entering the skincare industry.
Driven by social media
