2007 is the year that in which cosmetics manufacturers have to face tough competition from the flow of imported products from the foreign countries. Those products are both leading brand name cosmetics which are accepted in the world arena and the new brand products whose manufacturers aim to penetrate the markets in Asia in order to seize the market shares valued at more than THB 30 billion a year. It was partly caused by the way that Baht adjusted stronger swiftly in 2006 to 2007 while the US Dollar has tended to depreciate. The import cost of products imported from foreign countries, such as America, Europe and Asia, such as Japan and Taiwan has tended to drop. As a result, Thai cosmetics manufacturers which are the group that focus on the low production costs and the middle- to high- end manufacturers who manufacture under their own brand name have face with tougher competition. In 2007, it is possible that the import value of cosmetics of Thailand (Custom Tariff No. HS3303, HS3304, HS3305, HS3306 and HS3307) will be worth not less than USD 250 million, growing by 10-15 percent. Hence, KASIKORN RESEARCH CENTER is of the view that Thai cosmetics manufacturers should turn crisis into opportunity and take an advantage from the stronger baht by creating an advantage on the production by investing to import the new technology and machinery to use in the production in order to reduce the cost, including creating innovation, differentiation and value added for the products. Besides, the manufacturers should plan to develop products for middle to high-end market more. That strategy will reduce the effects from the competition with the low- price products from China and other Asian member countries. Meanwhile, government and private sectors should coordinate earnestly and continuously by launching systematic public relations in order to make customers more acquainted with Thai cosmetic products. This is a sustainable way to encourage Thais to buy Thai cosmetics products that begin to be accepted in the world market more.
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