Body Shop slashes prices in Indian market
Global cosmetics brand The Body Shop has slashed its prices in the India market by 11 to 21 percent across all its product categories to make the brand more accessible to customers in the country.
This is not the first time the beauty brand has reduced prices in the price sensitive market. Last year, citing lower sales the cosmetics brand had decided to cut prices by almost 20 to 30 percent to increase its share in the competitive cosmetics market in India.
Most recently, the brand had reduced prices by another 10 percent to pass on the December GST (Goods and Services Tax) Council’s rate cuts to the consumer.
To survive in the Indian market, Body Shop is trying a new strategy by offering products at lower prices in order to compete with a host of Indian companies which offer natural and Ayurvedic cosmetic products.
Sanjali Giri, General Manager, The Body Shop, in a statement said, “After achieving tremendous success last year in expanding our customer base via this customer-centric strategy, we have introduced inclusion of skincare and fragrance along with bath and body in our price reduction initiative this year.’’
Body Shop entered the Indian market a decade ago and sells across 150 stores across the country. The brand is endorsed in India by Bollywood actress Jacqueline Fernandez.
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