Bolivian women are used to hair removal and many have incorporated this into their daily habits. Bolivia’s varied racial heritage strongly influences the performance of depilatories in rural areas.
Although depilatories will witness current value decline in 2020 overall, the performance will not be as drastic as many other product areas within beauty and personal care. The main reason for this has been the change to consumers’ routines regarding hair removal.
Companex Bolivia will continue to lead depilatories and broadened its portfolio in Bolivia prior to the pandemic by expanding its women’s razors and blades range with the launch of Gillette Venus. This product was mostly sold at modern grocery retailers focussing on high socioeconomic consumers, as the price is perceived to be too high for price-sensitive consumers.
Depilatories will rebound from as soon as 2021, however a full recovery is not expected until 2022. Likewise, consumption of depilatories will increase during 2021, but per capita consumption will be lower than witnessed in 2019.
Beauty salons are set to reopen in 2021, however with restrictions in place limiting the number of clients received per day. As a result, some consumers will return to their pre pandemic depilatory routines which over the duration of the forecast period will continue to pose a threat to depilatories.
Although women's razors and blades have low penetration rates in Bolivia, it will continue to be the largest product area over the duration of the forecast period. This was mainly due to a relatively low price compared to hair removers/bleaches and ease of use.
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