International Trade Import Cosmetics From U.S To Spain.

5205 words - 21 pages

1. IntroductionSpain is the 4th country, after US, Japan and Brazil, where most cosmetic and plastic surgery is performed.The cosmetic industry in Spain is an extremely lucrative market with a growth rateof 8.7% since 1998 following Denmark and Finland in increased sales. Spain, which is one of the ten largest economies in the world, is a member of the European Union and is the fastest growing major industrialized country in the world. The general population of Spain has shown increased interest in this market over the past few years. It is expected to keep with the upward trend well into the future. This market is very receptive to imports.The following figures are demonstrating the market states in Spain:a. Growth in the body care market has been impressive during 2002; 13.1% growth rate, the highest in the cosmetic market.b. Drugstores and department stores are the channels with the highest volume of sales, 29.6%.c. Body lotions continue to have the highest market share, over half of the body care market.d. Anti-aging creams capture 41% of the market, experimenting an impressive 20.3% rise during 2002e. Prices for these cosmetics have remained high, between 40 and 80 euros, and with quite a few exceptions surpassing 100 eurosObviously, there is a very big, profitable market for cosmetics in Spain. In my report, I assume I am a representative of one of U.S Import/Export company who going to import cosmetics to Spain market.2. Market ResearchThe cosmetics industry, according to the European Cosmetic Trade Association,refers to a myriad of products, the largest five being perfumes and fragrances,decorative cosmetics, skin and hair products, and various toiletries. Toiletries leadthis market at 26.1% of total sales, followed by hair care, skincare, perfumes,fragrances, and decorative cosmetics respectively.Overall, the United States holds a steady market share, remaining since 1998 asnumber five in overall cosmetic imports, with France, Germany, Italy, and theUnited Kingdom in the lead. Cosmetics directives for the EU as well as a separateRoyal decree exist for Spain. The import tariff for a majority of cosmetic productsfrom the U.S., including decorative cosmetics, hair care, skin products andperfumes is currently 0%.Spanish cosmetics market continues to gain strength and is not one that should be ignored by American businesses. American cosmetic products and its sub-sectors enjoy a very high reputation internationally, and are well received in Spain. The European cosmetic retail market as a whole has increased 5.2% over the year 1999. American companies can count on steady market increases that have characterized cosmetics in Spain over the last few years. As a whole, the cosmetic sector has experienced a noticeable increase. Certain products, however, have experienced exponential gains and toiletries in general have proven to be both lucrative and popular since 1998.My report analyzes the total cosmetic market, especially that which...

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