Colour Cosmetics in Thailand

PRE-COVID-19 PERFORMANCE

Product innovation and new brands support growth in 2019

As consumers become increasingly interested in a wider range of colour cosmetics, demand continued to shift towards products that offer specific benefits in 2019. Companies and brands are responding by offering products with targeted benefits and 2019 witnessed a further shift towards multiple benefits in one highly functional product.

Shiseido launches an exclusive collection

Shiseido launched an exclusive collection in collaboration with a member of the Thai Royal Family. SHISEIDO X SIRIVANNAVARI Princess Hanayaka Collection by Princess Sirivannavari Nariratana Rajakanya was two years in development, with the Princess closely involved in every step of the process.

Players expand their channel coverage

Some players expanded their retail coverage in 2019 by using new sales channels. Multi-branded stores became more popular as retail outlets as both mass and premium brands expanded their presence in these types of stores.

2020 AND BEYOND

COVID-19 impact

Sales of colour cosmetics are now expected to decline by 6% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares to an expected 8% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.

Affected products within colour cosmetics

BB/CC creams is the only category within colour cosmetics that is expected to continue to record constant 2019 value growth in 2020, at high, but significantly lower levels than witnessed in 2019. These relatively recent additions to colour cosmetics in Thailand achieved extremely high growth rates over the review period as women quickly recognised the benefits to their skin offered by these creams.

Recovery and opportunities

Although colour cosmetics is expected to return to constant 2019 value growth in 2021, growth rates are anticipated to be lower than the rates envisaged in our research conducted at the end of 2019 before the spread of COVID-19, and this will likely remain the case throughout the forecast period. Consumer sentiment will undoubtedly be dampened as a result of the epidemic and have a negative impact on more discretionary items within colour cosmetics going forward.

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