COVID-19 resulted in colour cosmetics seeing a steep decline in demand in 2020, as these products are closely linked with activities outside of the home, such as social occasions and work. Limitations on movement, including nightly curfews, hampered the ability to socialise, and many more Costa Ricans worked from home, which reduced the opportunity or need for colour cosmetics on a day-to-day basis.
Colour cosmetics are ruled by major players, since registration is perceived as complicated in Costa Rica. Regional direct seller Corporación Belcorp de Costa Rica continued to lead colour cosmetics in value terms in 2020, with its Cyzone, Ésika and L’Bel brands.
Despite the overall decline in colour cosmetics that impacted all players in 2020, direct sellers played an important role in sales. Since direct sales teams grow when there is unemployment, much recruitment was done during the pandemic.
Colour cosmetics is expected to see a swift recovery in current value terms in 2021, as social restrictions ease and Costa Ricans return to more normal levels of interaction outside of the home. However, this projected recovery will depend on the rate of vaccination, how quickly restrictions are lifted, and whether additional waves of the virus necessitate further lockdowns in the future.
As the local economy struggles to recover from the economic impact of the COVID-19 pandemic, a decline in the average consumer’s disposable income will see premium colour cosmetics lose out to their mass counterparts.
Lip products was among the worst-performing categories within colour cosmetics in 2020, as consumers were required to wear face masks in public, which made wearing lipstick or lip gloss neither practical nor worthwhile. As social distancing restrictions and rules around masks ease in Costa Rica in the coming years, this category will see some of the strongest growth in current value terms.
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Understand the latest market trends and future growth opportunities for the Colour Cosmetics industry in Costa Rica with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Colour Cosmetics industry in Costa Rica, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Colour Cosmetics research and analysis database.
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