Things are looking pretty in Brazil—and we don’t just mean the people. A recently released CNBC report states that the country known for its bronzed bodies and good looks will overtake Japan as the world’s No. 2 beauty market by 2013 to trail only the United States.
According to the report, Brazilian consumers spend an average of $240 a year on beauty products, matching the consumption of mature markets like the United States and United Kingdom. With a growth rate of 7–8 percent a year, Brazilian sales of beauty products are growing four times faster than the United States, which has a 2 percent annual growth rate. In fact, it is projected that over the next five years Brazil’s consumption of personal care and beauty products will outpace even that of the United States.
The good news for direct sellers? More women in Brazil buy cosmetics through direct sales than retail stores. While Avon has had a strong presence in the country—with 20 percent of its profits coming from this market alone—Brazilian consumers are open to new brands, offering considerable opportunities for direct selling companies looking to gain entry into the market.
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