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Aug 19, 2023

Sales up for cosmetics industry in the first half of the year

FRANKFURT (dpa-AFX) - Germany's personal care and detergent industry made more sales in the first half of 2023 than a year earlier despite generally weakening consumption. The industry association IKW

FRANKFURT (dpa-AFX) - Germany's personal care and detergent industry made more sales in the first half of 2023 than a year earlier despite generally weakening consumption. The industry association IKW put the total revenue on Thursday at around 16.3 billion euros. Based on a now expanded data basis, this is an increase of 9.2 percent compared to the same period last year, the industry association Korperpflege- und Waschmittel (IKW) announced in Frankfurt.

"Private household budgets are under severe pressure as inflation remains high. Many people have to save. However, very few people want to cut back on personal styling, body care and a homely, clean home," summed up IKW Managing Director Thomas Keiser. Part of the increase in sales is due to price increases: Manufacturers are passing on increased costs for energy and raw materials to their customers.

According to IKW, business abroad contributed significantly to the increase in sales in the first half of the year: export sales rose by 11.4 percent to 6.0 billion euros within the year. But consumers in Germany also spent more money on shampoos and deodorants, as well as laundry detergents and household cleaners: Domestic sales rose by 7.9 percent to 10.2 billion euros. For 2023 as a whole, the association had forecast domestic sales growth of 2.5 percent to around 20 billion euros in December./ben/DP/jha