Medplus Health Services and Titan Industries maintained their leading positions in the India health retailers market. Medplus launched its initial public offer in 2009 in order to generate revenue to support its expansion plans. The company aggressively increased its number of outlets in order to increase its geographical reach and sales. Titan Industries consistently keeps itself updated with trends and targets the young consumer base of 20-45 years old, thereby garnering high sales. In April 2012 the company launched its Blue range of sunglasses in line with the international trend.
The 8% value growth in 2012 in health and beauty specialist retailers was marginally higher than the review period CAGR of 6%. The growth was faster post 2009 as sales of beauty specialist retailers and other healthcare specialist retailers grew much faster due to increase in per capita income compared to 2007-2008. Secondly, consumers from 2011 onwards became brand conscious even for products such as spectacles and lenses, products which were earlier not associated with brands. Thirdly, a wider product range sold through chemists/pharmacies such as bathing products and accessories, health monitors and grocery products like chocolate contributed to the faster growth rate.
The forecast period will see a rise in the number of outlets for both beauty specialists and organised chemists/pharmacies. The outlets for beauty specialist retailers and chemists/pharmacies are expected to grow at CAGR of 7% and 4% respectively. Beauty specialist retailers will see a rise in the number of outlets of international brands as they try to strengthen their regional presence across the country, followed by an increase in sales for ayurvedic and herbal products as female consumers already started to move away from chemical products and will likely continue this trend. Furthermore there will be an increase in the number of organised chain outlets for chemists/pharmacies.
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