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Learn moreNov 2020
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COVID-19’s arrival in Finland has been affecting consumer health categories differently. Many saw sales soar during lockdown as Finns stockpiled, with acetaminophen demand enhanced by media reports that the product helps tackle symptoms of COVID-19.
A state of emergency was declared due to COVID-19 on 16 March in Finland, with the authorities announcing that government-run facilities such as libraries, theatres and museums would be closed, and gatherings of more than 10 people were banned. This also saw preparations being made to close the country’s borders, with people returning to Finland being placed under a 2-week quarantine.
While players have not had to deal with any government order for retailers to close their stores as part of the national lockdown, stockpiling among consumers in Q1 in particular has placed a strain on supply chains, with some products, eg echinacea, selling out in some stores. The bigger and well-known brands have tended to benefit from consumers being more rational in their purchases at a time of significant loss in purchasing power, with shoppers not wanting to risk wasting money on brands unfamiliar to them that may not work as effectively given the heightened demand and limited product supplies.
E-commerce is gaining value share of consumer health sales at a more rapid rate in 2020 due to the impact of COVID-19, with many Finns opting to order their supplies online for the lower risk of virus transmission compared with store-based retailers. As more people have become more familiar with researching and purchasing online owing to the lockdown and ongoing wariness of unnecessary trips to shops, the habit of using e-commerce for consumer health is becoming more widespread.
Among those categories that have experienced accelerated demand in light of the pandemic, vitamins and dietary supplements is likely to attract increased consumption on an ongoing basis, while others such as analgesics are set to see sales fall in 2021 while existing stock at home is consumed. Categories that have lost sales on account of the lockdown and the subsequent prevention/reduction of purchasing triggers, such as digestive remedies and dermatologicals, are predicted to bounce back in 2021, pending no further quarantine for residents in the country.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Consumer Health industry in Finland with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Consumer Health industry in Finland, our research will save you time and money while empowering you to make informed, profitable decisions.
When you purchase this report, you also get the data and the content from these category reports in Finland for free:
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This industry report originates from Passport, our Consumer Health market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.