The economic instability unleashed by COVID-19 is having a negative impact on average disposable incomes in Slovenia. This will weigh on value sales growth in dermatologicals during 2020, as some consumers cut down on purchases them deem inessential.
The stigma that was once associated with some skin-related conditions, such as haemorrhoids and vaginal fungi, has been steadily decreasing over the review period. Manufacturers have played a role in this by running marketing campaigns aimed at altering consumer perceptions of these conditions and products that can treat them.
Dermatologicals has not seen as strong a trend towards consolidation as has been evident elsewhere in consumer health. Although international players GSK Consumer Healthcare, Bayer doo, Krka dd Novo Mesto – part of Johnson & Johnson Inc – and L'Oréal Slovenija doo lead, “others” i.
Value sales growth in dermatologicals is set to weaken during the forecast period, with medicated shampoos, vaginal antifungals and hair loss treatments exhibiting some of the sharpest slowdowns. This will reflect the maturation of demand, as the impetus to growth provided by the weakening of taboos surrounding the use of these products begins to dissipate.
As in much of the rest of consumer health, COVID-19 has given a significant boost to e-commerce sales of dermatologicals. Locked-down consumers turned to the online channel in growing numbers, and as they grow more comfortable with e-commerce, many of them will stick with it due to its convenience and completive pricing, as well as the privacy it affords.
Private label remains absent in dermatologicals, and this is unlikely to change during the forecast period. Brand loyalty is particularly important in dermatologicals, and once consumers find a product that they like, they tend to stick to it, even if a cheaper alternative becomes available.
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Understand the latest market trends and future growth opportunities for the Medicated Skin Care industry in Slovenia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Medicated Skin Care research and analysis database.
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