Small lipstick wonders: India’s beauty fix comes in minis and Lakme’s ready to cash in

Mini-sized beauty products are gaining traction in India, driven by affordability, convenience, and the desire for experimentation, particularly among Gen Z. These small packs, often called "minis," are reshaping the Indian beauty market as more consumers look to experiment with makeup at the "right" price. Vice President at Lakme, Ms. Sunanda Khaitan, highlighted that minis are helping to expand makeup usage beyond special occasions. She noted that India will embrace minis, especially Gen Z, who are keen on experimenting. While mass affordability is a key reason for the rise of small packs, their role in boosting on-the-go use and product trials has been equally important. She pointed out that makeup penetration in India is still under 30%, indicating significant potential for growth. One major driver of this trend is the rise of quick commerce platforms, with consumers stocking up on essentials like kajal and nail polish remover through apps like Swiggy and Zepto. The ease of access and speed of delivery are helping to expand the adoption of makeup products.
Lakme, part of Hindustan Unilever (HUL), is positioning itself to tackle the challenge of staying relevant in a competitive market by making makeup more accessible and bringing global trends to Indian consumers at affordable prices. She acknowledged the role of the "lipstick index," suggesting that people may still spend on small luxuries, even when the economy is down. She highlighted that aspiration and beauty expression have not slowed down post-Covid, but the key is to be in the right place and at the right price. With competition intensifying due to the entry of numerous new-age and international brands, Lakme is investing heavily in digital platforms to reach today's consumers effectively.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.