Home seclusion presented new opportunities for make-up companies to get closer to consumers through the use of new technologies. This was the case with L'Oréal which introduced a new virtual online tool which allows consumers to upload a photo into its app or onto their computer and then apply different products from its range to the photo, such as foundation/concealer, blush, eye shadow and lipstick.
The COVID-19 pandemic placed a significant amount of pressure on Peru’s economy in 2020 and 2021, with this being further impacted by political instability within the country. This resulted in many consumers facing a drop in disposable income, which in turn put pressure on sales of non-essential products, including colour cosmetics.
The pandemic has had a big impact on the distribution of colour cosmetics with a growing number of brands retailers focusing on an omnichannel approach. Direct selling accounts for most sales of colour cosmetics in Peru but following the outbreak of COVID-19 in 2020 direct selling companies were forced to start selling online for the first time.
Colour cosmetics is expected a full recovery in value terms by 2023, with this being associated with reducing COVID-19 fears and the lifting of the associated restrictions. One of the factors that should help support the sales recovery is the fact that colour cosmetics usually have a low unit price in Peru, with mass products dominating.
The range of colour cosmetics available in Peru is highly varied; however, there is the potential for new competitors to enter the market in the future as demand strengthens. Nonetheless, direct selling companies that already have an established presence in the country will likely continue to dominate the field for the foreseeable future.
In Peru, there are still no companies that offer colour cosmetics products tailored to each client and this is unlikely to change in the coming years given that consumers are not willing to pay extra money for such a service. The brands that exist in the market already offer a wide variety of shades within their product portfolios and this helps every individual to find a product that suits their need.
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Understand the latest market trends and future growth opportunities for the Colour Cosmetics industry in Peru 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 Peru, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Colour Cosmetics
This is the aggregation of facial make-up, eye make-up, lip products, nail products and colour cosmetics sets/kits.
See All of Our DefinitionsThis report originates from Passport, our Colour Cosmetics research and analysis database.
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