Sales of Hairstyling Products Declining
In the one year period ending on Sep. 22, 2019, sales of hairstyling products in Iran declined by 11% compared to a year earlier, market research carried out by the emrc shows.
The current report is based on data gathered by the emrc from major retailers active in 24 Iranian cities.
A wide range of hairstyling products are offered in Iran. The products and their share in the market are as follows: styling spray 63%, gel 28%, glue 4%, wax 2%, gel wax 1%, mouse 1%, cream 1%, and other products 0.2%.
Considering the economic headwinds Iran is facing, almost all businesses have been forces to jack up prices. Following the imposition of harsh US sanctions against Tehran prices of raw materials and production costs have gone through the roof. The economic conditions have forced Iranian producers to increase prices. Furthermore, the economic hard times have force people to curb spending.
Sales of hairstyling spray declined by 4% during the period compared to a year earlier. During the period sales of hairstyling gel and mouse respectively dropped by 24% and 26% year-on-year.
With the Iranian rial deprecating almost all businesses have been forced to hike prices. While the rial value of hairstyling products sold in Iran has jumped by 76%, the companies’ turnover in dollar terms have contracted.
The rial value of hairstyling spray sold in Iran jumped by 93% YOY during the one year period. Sales of hair gel and hair glue also grow respectively by 45% and 82%.