Depilatories in Costa Rica

PRE-COVID-19 PERFORMANCE

Affordability and multiple performance claims dictate sales

Depilatories continued to see dynamic current value and retail volume growth in 2019. Hair removers/bleaches remained the largest category in value terms, and also saw the highest current value growth.

Areas of focus vary between different distribution channels

During 2019, price competition and product specialisation continued to set the pace for demand in depilatories across modern and traditional grocery retailers, as well as beauty specialist retailers and chemists/pharmacies. Modern grocery retailers kept increasing their levels of segmentation in terms of product types and added-value proposals, ranging from razor multipacks to depilatory gels.

Multinationals and a local beauty specialist retailer continue to lead

Value sales of depilatories continued to be concentrated amongst three major players in 2019, Reckitt Benckiser Centroamerica (Veet), Grupo Moreno (Satin Smooth and Beauty Image) and Procter & Gamble Interamericas de Costa Rica (Gillette). In the case of Reckitt Benckiser and Procter & Gamble, they have been able to defend their positions though wide availability across grocery retailers and chemists/pharmacies.

2020 AND BEYOND

COVID-19 impact

Depilatories is now expected to see a 2% decline in 2020 in 2019 constant value terms in light of the impact of COVID-19. This is much lower than the 4% growth forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.

Affected products within depilatories

Although COVID-19 is expected to have a negative impact on the growth rate of depilatories, there are not expected to be any major changes to the patterns of growth seen the previous year. All depilatories categories are expected to see similar current value growth rates in 2020, but the increase will purely be down to price rises, as all categories are also expected to see retail volume declines.

Recovery and opportunities

Demand for depilatories is expected to return in 2021, with a strong improvement to current value growth and a return to retail volume growth. However, the growth rates are not expected to reach pre-COVID-19 levels until 2022, meaning that the category is expected to take some time to recover.

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