As major global manufacturers and local distributors and retailers looked to expand the sales’ potential of their main value proposals, their investment in developing new depilatories formats and innovations remained relatively low in 2018. In instead there was further proliferation of new value-for-money proposals such as from Walmart with its private label brand Equate as well as direct imports of hair removal brands such as Nair, targeting middle-income and more mature consumers interested in more traditional and affordable alternatives.
There are incipient efforts to incentivise demand for products that address specific hair-removal needs, such as facial or intimate proposals. In such context, brand awareness tends to be more generic, leaving consumers to use their own judgment when choosing between the available brands for different use occasions.
There was strong demand for natural-based brand extensions amongst most skin care-related categories in Costa Rica in 2018, and this trend is expected to gain momentum over the forecast period. Hair removal products, as well as razors and blades systems, preshave and after-shave product updates will keep leveraging on the ongoing added value-natural ingredients claims, as a growing base of young millennials is expected to embrace such types of beauty and wellness trends in the country.
Benefiting from consolidated manufacturing, marketing and distribution capabilities, the international players Reckitt Benckiser (Veet) and Procter & Gamble (Gillette), along with the local beauty specialist retailers Super Salon (Gigi, Beauty Image and Satin Smooth), remained ahead across the different depilatories categories in Costa Rica in 2018. Brand positioning, segmentation, product innovation and pricing competition help to explain the main competitive advantages of these dominant players.
As seen in 2018, a broader base of added-value but also affordable imported products are expected to keep boosting demand for depilatories over the forecast period. In this context, promotion of more functional skin care proposals with natural moisturisers along with Walmart’s private label proposals will keep gaining sales momentum across a wider base of modern grocery retailers.
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This industry report originates from Passport, our Beauty and Personal Care market research database.