Colour Cosmetics in Greece

PRE-COVID-19 PERFORMANCE

A mixed performance in 2019 as sales decline in many categories despite innovation

Colour cosmetics recorded declining sales in 2019 due to the negative performance recorded in the key category of mascara. However, many categories are recording positive growth, in line with the overall recovery of the economy and the stronger consumer confidence being seen in Greece.

L’Oréal remains the leading international player, Hellenica is the leading local player

At the end of the review period, L’Oréal Hellas maintained its longstanding position as the leading player in colour cosmetics. A major multinational player with some of the leading global colour cosmetics brands in its stable, L’Oréal’s strong position in Greece is backed by heavy investment in the promotion and advertising of its various colour cosmetics brands, L’Oréal saw its mass brand Maybelline increase its value sales further over the course of 2019 as consumers sought to rely on well-known brands with which they are familiar.

Mono-brand retailers poised to become far more influential in colour cosmetics

One of the most important trends in the retailing of beauty and personal care products in Greece during the review period was the strong emergence of mono-brand retailers offering mainly mass products at affordable prices in a fun and inviting atmosphere. The momentum of this trend accelerated over the course of 2019, with many of the chained retailers establishing new outlets focusing mainly on colour cosmetics.

2020 AND BEYOND

COVID-19 impact

Sales of colour cosmetics are now expected to decline by 2% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This represents a worse performance than the expected marginal increase forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.

Affected products within colour cosmetics

All categories of colour cosmetics are likely to have been negatively affected by COVID-19, with premium brands expected to have been hit harder by falling demand than mass brands.

Recovery and opportunities

By the end of the forecast period, sales of colour cosmetics are expected to have recovered fully from the declines anticipated in the category during 2020. Although spending on colour cosmetics does come under pressure during times of economic hardship, it should be noted that these products are often seen as an affordable luxury or acceptable indulgence by consumers whose incomes are under pressure.

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