In 2018, value sales of beauty and personal care continued to rise, albeit at a slightly slower pace than that seen over the previous year. Premium beauty and personal care saw higher value growth, which turned positive for the first time in five years, as consumers seemed more comfortable with increasing their purchases given that the economy was increasingly stable compared with what it was in 2016.
Even though consumers were willing to spend more in 2017 and volume sales showed positive movement, value growth amongst most beauty and personal care categories remained low in comparison to previous years. During 2018, optimism amongst consumers about the economy waned, as they realised that economic conditions were not as good as expected.
Although international brands continued to lead beauty and personal care in Ecuador, domestic brands’ value shares increased, especially in bath and shower, oral care and hair care, due to a wider offer focussed on economy products and lower-priced packaging such as doypacks. New economy brands, with higher content packaging, are focussing their distribution amongst supermarkets and amongst small grocery retailers in the traditional channel, which is important in terms of increasing quantity and nationwide reach.
Consumers are demanding multifunctional products, for two reasons. One is the lack of time that the general population has been experiencing in a highly demanding working environment in all economic groups; another reason is the desire to save money.
Beauty and personal care is forecast to see conservative value growth during forecast period, driven by a still uncertain economic future and conservative companies taking care of their costs and margins. Nevertheless, there will be room for growth driven by innovation within premium and mass categories, the entrance of imported brands coming from the EU resulting from the commercial agreement that started in 2017 and the continued introduction of new lines.
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Discover the latest market trends and uncover sources of future market growth for the Beauty and Personal Care industry in Ecuador with research from Euromonitor's team of in-country analysts.
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This industry report originates from Passport, our Beauty and Personal Care market research database.