The global hair removal wax market is estimated to expand at a CAGR of 9.4% during the forecasted period from 2018-2026. In terms of volume, the market is expected to reach over 5000 million units at a CAGR of approx. 8% in 2026, owing to rising trends in personal grooming and rapidly changing lifestyles.
The Asia Pacific has marked its dominance in the hair removal wax market as China and India are the largest producers, with many small and medium-scale manufacturers operational.
The hair removal wax market in the Asia Pacific is projected to expand rapidly during the above forecasted period. Rising disposable income and a growing population in India and China are two significant factors fueling this growth.
The ongoing pandemic has sent a shock wave throughout the nations. The government’s stringent regulations have held sales due to stores, Parlors and Spas closure leading to massive slowdown. But someone has rightly said, “when one door closes, another opens up”. Many manufacturers in the hair removal wax sector have routed themselves to online selling.
The King of Wax, Rahul Sharma of Sleek wax, is one such Industry Leader who did his best during these challenging times by ensuring the successful existence of his business and contributing to the survival of the people who are associated directly or indirectly with the industry.
Priyanka Rathi Verma, In Conversation with Rahul Sharma, Sleek wax
Priyanka: To subdue the effect of the pandemic, many manufactures esp. in the cosmetic and hair wax removal sector switched to producing hand sanitizers and disinfectant products. What was your survival strategy, how did you cope up during this period?
Rahul: Well, we never switched to hand sanitisers or disinfectant products. Instead, this lockdown taught everyone to be hygienic and removing unwanted hair from the body is the best way to remain hygienic & here, we hit the deck by giving the best quality of sterile wax to all our clients. Actually speaking, hair-removing wax became the essential product in every home during this lockdown, rather than just being a cosmetic product.
Priyanka: Did you find consumers evolving during this pandemic period, especially in the context of their buying behavior?
Rahul: Yes, for sure, we were somewhat surprised by the massive response in demand of hair removing wax in this pandemic era and as we are the best hygienic wax manufacturer with fully automated plants, we were able to adhere to this demand. To our surprise, the younger generation showed a very remarkable Jump & became our consumers during this lockdown. We warmly welcomed many young customers to the world of sleek.
Priyanka: What inspired your move of revamping and launching your product with new Packaging and Labelling into the E-commerce market and your long-term goals regarding the same.
Rahul: E-commerce is the need of the hour, especially during this pandemic era. Most of the population, i.e., young – old or middle-aged, are more tech-savvy now & with mobile commerce, buying online has become convenient. As I already mentioned, we had observed our product labels carefully, the bold & crystal clear labels have attracted huge customers, boosting our sales. In the future also we will be working on innovative labels and keep fulfilling the requirements of our consumers.
Priyanka: When you decided to launch your product on an E-commerce platform, what Label prerequisites do you focus on and discuss with your Label convertor. What were the specific vital areas you wanted to be addressed?
Rahul: A proper environmental scanning was done before entering into the online platform. Every pre-launch requirement was handled with utmost care so that no confusion remains to our consumers. I am sure that after going through our labels i.e., specifications, directions to use, cautions & other valuable information, the consumers will be fully educated before going ahead with their purchase decision and landing up with the right product in their buying cart. Once again, I will emphasise that bold & crystal clear labels speak loud in favor of the organization, leading to increased sales graph online.
Priyanka: Labels are essential. How much value as a brand do you place on the importance of Labels in the context of them being a vital tool for boosting the sale or impressing a customer to buy your product.
Rahul: Our labels and packaging are silent salesmen describing all the specifications & other details very transparently. We have consistently earned an extra edge over our competitors because of our labeling. For us, the value of labels is of prime importance and that is why we work with the best in the industry for our labels, the ones who thoroughly understand the requirements of consumers & can guide us on the subject of ‘Right Labels to Use’ and ‘How to Boost our Sales with Labels’, which are impressive & educative.
About Priyanka Rathi Verma:
Guest Editor-Labels Flexibles & More
Sr. Manager Media & Marketing -Digistik
Digistik is the only label printing company built from the ground up on a digital platform, with a complete focus on delivering high definition photo-quality graphics. Use state of art Digital presses with multiple locations throughout India. www.digistik.in
