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Submitted by dody2209 on January 20, 2008
Category: Miscellaneous
Words: 2097 | Pages: 9
Views: 115
Popularity Rank: 84,451
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Introduction
Current Status of the Industry in Lebanon Compared to the Middle East
Nowadays the male grooming routine has changed dramatically. It no longer consists of the three S's: Shaving, Showering and Shampooing; males are becoming more interested in improving their looks. Fashion for men has been becoming more and more important in the last decade, especially in the Middle East. Today, in order to tailor the man’s appearance to perfection, cosmetics companies have created a line just for men.
In the past few years, a number of major cosmetics companies have entered the Middle East and partnered with key regional distributors and retailers to expand their market and increase their sales. The demand for men’s products has grown tremendously with a growth rate equal to 12%. According to Paul Cochrane, “some areas of the Middle East are not enjoying the best of times at the moment, but others are far from experiencing the worst”, although Lebanon seems to be enjoying high sales in its male grooming sector that are estimated to be $180 million a year, these returns seem low compared to other middle eastern countries like the UAE that enjoyed total retail sales estimated to be over $414 million last year while Saudi Arabia remains the main market for cosmetics and beauty products in the region.
Purpose and Scope of the Study
In order to improve this industry, we have began our report by examining and assessing Lebanon's economic and demographic situation in order to fully understand this market then we moved to the marketing strategy currently being used in the industry to target this market by weighing its positive and negative features. The main goal of this study is to determine the strategy's weak points and give alternate solutions. Many questions were answered in this study, including:
§ What's the current status of the industry in Lebanon compared to other Middle Eastern countries?
§ What...
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