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?
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
Agree with the approach below. I would also take into account the hygienic lipstick used both by Men and Women and kids in winter.