vMay17,2017PERSONALCARE11PERSONALCARE2017EXCERPTTHEFULLREPORTISAVAILABLETOL2MEMBERSONLY.INQUIREABOUTMEMBERSHIP.mailto:membership%40l2thinktank.com?subject=L2%20membership%20Inquiry22May17,2017EXCERPTPERSONALCARE2017INTRODUCTIONRANKINGSITE&E-COMMERCEDIGITALMARKETINGSOCIALMEDIAMOBILEEXCERPT0.1%LARGE>$5.5BSALESMIDSIZE$1B–$5.5BSALESSMALL$100M–$1BSALES3.1%-0.5%TheRiseofDisruptorsSince2011,largeconsumerpackagedgoods(CPG)firmshaveshed$20billioninsharetosmaller,independently-ownedcompanies.RevenuesforsmallCPGbrandsgrewby3.1percentin2016,whilesalesforlarge,establishedenterprisesdeclined0.5percent.1WhileofflinerevenuesstilldominateinPersonalCare,shareofsalesfromonlinechannelswillsoonpassthe20percentinflectionpointatwhichotherindustries—includingmusic&videoandbooks&magazines—wereirreversiblydisruptedby