SCOPE: Mongolia

DATA COLLECTION METHOD: Quantitative research, secondary research, census research and price research

SAMPLE SIZE: n=384

TIME PERIOD: 2022.11.21 – 2022.12.22

GOAL: To study the market of perfumes and cosmetics in Mongolia, to carry out consumer research, to study the social, economic, banking, and legal environment of Mongolia.

MAIN FINDINGS: This study is unique in that it was commissioned by a Russian business organization, and the study fully developed basic information necessary for starting a new business in the perfume and cosmetics industry in Mongolia. Quantitative research showed that Mongolians like Korean skin care and make-up products and French and Italian perfumes, which indicated that the influence of Korean culture is strong in this field as well. A general conclusion has been reached that the industry market will grow in the coming years due to the fact that people's interest in skin care and make-up and the habit of paying attention to their beauty are increasing day by day. The research team gave relevant conclusions and recommendations to the client based on all the research data.