Colour Cosmetics in Vietnam

PRE-COVID-19 PERFORMANCE

Rising fashion awareness fuels interest in colour cosmetics

Over the review period, demand for colour cosmetics increased significantly, especially among younger people. This is mainly due to the strong penetration of Western and Korean culture through social networks and media.

New innovative lip products continue to attract Vietnamese women

BB/CC creams and lipstick continue to see particularly strong growth. Lipstick remains the most developed category, with lip products seeing strong double-digit volume growth throughout the year.

Luxury reputation ensures Estée Lauder remains in pole position

Estée Lauder continues to lead sales within colour cosmetics due to the popularity of brands such as Mac, Estée Lauder, Clinique and Bobbi Brown. Mac is particularly successful due to its offering of various product types serving multiple functions.

2020 AND BEYOND

COVID-19 impact

Colour cosmetics is now expected to post value growth of 2% in constant 2019 price terms in 2020. By the end of March 2020, social distancing measures had been officially applied by the government to control the epidemic.

Affected products within colour cosmetics

In April 2020, the government decided to close most entertainment locations such as shopping malls and spas due to social distancing measures, thus strongly impacting value sales of premium brands. Although beauty specific stores are still allowed to open, most people preferred to stay at home during this period.

Recovery and opportunities

Due to the COVID-19 epidemic, digital marketing has become a significant channel for companies to advertise their products and increase brand representation. Livestreaming via social networks like Facebook has become a popular method which companies use to advertise their products, as well as to increase interaction with customers.

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