R. Hirschmann
Research expert covering Singapore, Indonesia and Malaysia
Cosmetics market in Singapore - statistics & facts
For many Singaporeans, beauty is not just in the eye of the beholder, but also in the countless jars, vials, bottles, and ampoules sold in shops like Sephora and Watsons. The beauty and personal care market in Singapore was forecast to earn revenues of 1.24 billion U.S. dollars in 2024. While small, the Singapore cosmetics and personal care market is highly competitive, with an innovative retail sector.
Although cosmetics make up around five percent of product sales on Singapore’s e-commerce retail market, they are among the most purchased items through live shopping events. For many beauty customers, live shopping allows them to not only interact with the seller and pose questions about the products being sold, but it also gives them a real-time review and experience of the products’ application and performance. This is especially important for color cosmetics.
Singapore’s cosmetics and personal care industry is highly competitive and saturated with brands from all over the globe. To succeed, brands would need to be innovative and keep up with consumers’ expectations. Beauty and personal care retail would also need to adapt to the changing landscape and incorporate the latest digital trends to better meet the needs of a digitally savvy consumer base.
Trusted brands in the cosmetics and personal care market
The beauty and personal care market in Singapore has a large variety of brands to cater to the differing needs of its multi-cultural consumer base. Asian brands, especially Japanese and Korean ones, are among the most trusted for skincare by beauty consumers there. Even so, cosmetics from western markets, in particular France, still make up the majority of cosmetics imports. While Asian brands might seem better suited to local needs, established western brands have the advantage of being global market leaders and still have widespread appeal to the discerning Singaporean beauty consumer. The Singapore beauty consumer is not averse to paying for premium goods, and luxury cosmetics make up more than a quarter of the Singaporean market. Brands, therefore, need to distinguish themselves from the competition and stay informed of what is important to consumers to compete for these beauty dollars.Integrating digital innovations and trends with cosmetics and beauty retail
Beauty retailers know how integral digital technology is to the consumer’s everyday life and have started to integrate such technology into their retail concept. Global beauty retailer Sephora launched its first omnichannel ‘store of the future’ outlet in Singapore, combining digital tools and services, such as cashless payments and app-based skin diagnostics. In 2023, Sephora integrated conversational AI into its online shopping experiencing, giving online shoppers another dimension of customer service akin to being in a brick-and-mortar store.Although cosmetics make up around five percent of product sales on Singapore’s e-commerce retail market, they are among the most purchased items through live shopping events. For many beauty customers, live shopping allows them to not only interact with the seller and pose questions about the products being sold, but it also gives them a real-time review and experience of the products’ application and performance. This is especially important for color cosmetics.
Singapore’s cosmetics and personal care industry is highly competitive and saturated with brands from all over the globe. To succeed, brands would need to be innovative and keep up with consumers’ expectations. Beauty and personal care retail would also need to adapt to the changing landscape and incorporate the latest digital trends to better meet the needs of a digitally savvy consumer base.
