Classical question. I just wondered if you would use the same estimates/approaches/results as i have/did.
How much is the lipstick market in Sweden worth?
Overview of answers
Which one did you use? Easier to check whether we would use the same (or not)
Top down approach would be:
- Sweden's population - 10 mln people, half female
- 20% are outside of age bracket - women below 18 and over 75
- split between heavy users and occassional users, assume 50/50 split
- heavy users buy 10 lipsticks a year, occasional users buy 2 lipsticks a year, average is 6
- average price of a lipstick is 10 EUR
makret is 240M EUR
Tomasz approach is solid. Would take an haircut from the estimate due to alternate products (lip balm, lip ointment, etc)
Agree with the approach below. I would also take into account the hygienic lipstick used both by Men and Women and kids in winter.