Colour cosmetics recorded a decline in the number of units sold in 2017 since consumers are focused on purchasing basic and priority products in beauty and personal care and packaged food whilst avoiding less essential items such as colour cosmetics. No recovery in retail volume sales can be expected over the forecast period as long as limited purchasing power continues to dampen demand.
Colour cosmetics are bought and used by women of all income groups. Regular use of colour cosmetics is part of Venezuelan women’s culture, which has been highly influenced by a strong tradition of beauty pageants such as Miss Venezuela.
Foundation/concealer and sun protection do not overlap, primarily because of their different application moments. Sun protection is normally used when going to the beach or when practising outdoor sports, whilst foundation and facial powders are used in a daily routine, in the mornings and/or evenings.
Drocosca, a domestic manufacturer, continued to lead colour cosmetics in 2017. The company increased its retail value share following an upward trend observed over the review period.
Local brands such as Valmy (Drocosca) and Personi (Aroma Cosmetics) continue to base their competitive strategies on low prices, whilst Mon Rêve (Mercantil International) is positioned in the mid-price range. Colour cosmetics saw little innovation during 2017, which is expected to continue as long as imports of inputs and final products remain too costly.
Faced with tight budgets, Venezuelan women are limiting their purchases to basic items. They will choose powder over foundation/concealer, as they believe powder serves multiple purposes.
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Understand the latest market trends and future growth opportunities for the Colour Cosmetics industry in Venezuela 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 Venezuela, 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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