The market forecast for beauty products is to go from $22.1 billion a year in 2017 to $28.7 billion by 2020. Why is that useful information for an entrepreneur looking to market a beauty-related business? (1 point) Responses It suggests that there will be a lot of room for new businesses. It suggests that there will be a lot of room for new businesses. It guarantees that any beauty-related business will do really well. It guarantees that any beauty-related business will do really well. It indicates that beauty products for men will see exponential growth. It indicates that beauty products for men will see exponential growth. It means that the government feels consumers should spend more on beauty products.
It suggests that there will be a lot of room for new businesses.
This information is useful for an entrepreneur looking to market a beauty-related business because it indicates that the beauty industry is growing and there is potential for new businesses to enter the market and succeed. The forecasted increase in market size suggests that there is an opportunity for entrepreneurs to tap into this growing demand and potentially capture a larger market share. By being aware of this forecast, entrepreneurs can strategically position their beauty-related business to take advantage of the anticipated growth in the industry.