The uncertain economic outlook had already led to a stagnant performance for beauty and personal care at the end of the review period, with consumers becoming increasingly price sensitive and seeking promotions, discounts and low prices when shopping. The Coronavirus (COVID-19) epidemic is exacerbating this behaviour, leading to an expected overall decline in constant 2019 value sales in 2020.
As of 10 May 2020, Finland had seen around 270 deaths due to COVID-19 and 6,000 cases. A state of emergency was declared due to COVID-19 on 16 March, with the authorities announcing that government-run facilities such as libraries, theatres and museums would be closed and gatherings of more than 10 people banned.
Following global beauty trends, Finns focused on skin care in 2019. In value sales, toners, anti-age products and face masks, as well as acne treatments, performed well.
Sustainability was also a major trend in beauty and personal care in Finland in 2019, one to which manufacturers responded in various ways. This was evident in marketing, product ingredients listings and packaging, as well as more transparent corporate responsibility.
Although many categories of beauty and personal care are expected to record a recovery in 2020 as Finns restock on these products after the focus on more essential products during the pandemic, constant 2019 value growth between 2021 and 2024 is expected to be negligible or moderate, with some categories witnessing declining value sales. Manufacturers and retailers will likely need to offer attractive promotions and discounts to attract consumers, leading to declining prices for many products at constant 2019 levels.
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Understand the latest market trends and future growth opportunities for the Beauty and Personal Care industry in Finland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Beauty and Personal Care research and analysis database.
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