Colour Cosmetics in Latvia

PROSPECTS

BB/CC creams, mascara and nail polish the best performers in 2017

BB/CC creams continued to perform well in 2017 as these products offer multiple benefits and are perceived as an effective alternative to foundation. However, the category’s growth is likely to slow over the forecast period as it becomes more saturated and mature.

Category benefits from frequent new launches to maintain consumer interest

In 2017, colour cosmetics continued to benefit from the frequent launch of new products, with this serving to maintain the interest of consumers. These included Douglas’ private label Rising Star Palette, a make-up set for the entire face in a star-shaped format, gelatine-based nail polishes from local company Kinetics Nail Systems, claiming to offer greater durability, Avon True Color SuperExtend Nourishing Mascara, containing vitamin C and argan oil, as well as Avon’s new lipstick, Luxe Shape Sensation, with contains skin care ingredients such as hyaluronic acid and collagen.

Increasing consumer sophistication and changing demographics

As the most active users of colour cosmetics are young women, the future of the category will likely depend more on quality than volume. According to statisticians, the number of women aged between 20 and 29 in Latvia is set to decline by almost 30% by 2022, while the number of women in the 30-39 age bracket is expected to fall by 5% over the same period.

COMPETITIVE LANDSCAPE

L’Oréal remains the clear category leader

L’Oréal remained the clear category leader in 2017 thanks to the ongoing popularity of brands such as L’Oréal Paris, Maybelline and Lancôme. The company’s position can also be attributed to a wide range of products in both the mass and premium segments, strong distribution and aggressive marketing.

Almost a fifth of colour cosmetics sold in drugstores/parapharmacies

The strength of drugstores/parapharmacies in colour cosmetics can be largely attributed to the Drogas chain, which offers a wide range of brands and products and runs frequent sales promotions. However, Drogas still faces competition from other retailers, such as NYX and Douglas.

Manufacturers increasingly focusing on influencer marketing

Standard advertising methods are being slowly replaced by influencer marketing, especially when it comes to colour cosmetics targeted at young women. Traditional marketing methods are no longer seen as effective as they target a broad group of consumers and lack that individual touch.

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