We are excited to congratulate Nice One on its recent IPO debut on the Saudi Exchange’s Main Market (Tadawul).
As the leading online platform for cosmetics, personal care, and fragrances, Nice One continues to set benchmarks in the industry. This marks a pivotal moment for the online Beauty & Personal Care Retail Market & also underscores the Kingdom’s potential for further innovation and investment in the sector.
To learn more about our expertise in growth and strategy consulting, reach out to us at [email protected]
Redseer Strategy Consultants Role in Nice One`s Success
Redseer Strategy Consultants is delighted to support Nice One as market consultants, contributing to its remarkable IPO journey. Leveraging our expertise in growth and strategy consulting, we delivered comprehensive market and industry insights to support this historic achievement.
We look forward to witnessing Nice One’s continued success and contributions to the e-commerce landscape in MENA and beyond.
The Unique and Attractive Online BPC Retail Market in KSA
The online Beauty and Personal Care (BPC) retail market in Saudi Arabia (KSA) is both unique and highly attractive. Below are some key highlights from our perspective:
- High Per Capita Spending on BPC: KSA boasts one of the highest per capita spending on BPC globally. BPC accounts for 11% of consumer spending in the retail market, a figure significantly higher than in many other countries such as the US, UK, India, and China, where BPC comprises less than 5% of retail spending.
- Robust Market Growth: Despite already high levels of spending, the BPC retail market in KSA is projected to grow at a robust 8% annually over the next 4-5 years. Several factors drive this growth: a young and increasingly affluent population due to rising workforce participation, changing consumer behaviors as leisure and entertainment become more prominent, and improving access to diverse brands.
- High Online Penetration: KSA also boasts one of the highest online BPC penetrations globally, exceeding 18%. Factors such as high digital maturity, significant time spent online by women, attractive deals, strong offerings from e-tailing specialists like Nice One, and consumers’ exploratory behavior are driving this online adoption. The online BPC market is expected to continue its impressive growth trajectory with a 12% CAGR over the next 4-5 years.
Nice One: A Key Player in KSA’s Online BPC Market
Nice One, the leading BPC e-commerce specialist in the region, has been instrumental in the growth of the online BPC market in KSA. The company’s public listing marks a significant milestone for the region’s online retail market. This also underscores the Kingdom’s potential for further innovation and investment in the sector.
