Fragrances in Bolivia

PRE-COVID-19 PERFORMANCE

Mass fragrances widely popular while premium fragrances face competition from contraband in 2019

The use of fragrances in Bolivia is common across all socioeconomic segments. Fragrances are available in a wide range of prices and product quality, but mass products are by far the most popular.

Direct selling leads fragrances in Bolivia and changing lifestyles of consumers drive fragrance trends in 2019

Most sales were concentrated in the direct selling channel in 2019. Many consumers view direct selling brands as offering good quality fragrances, believing that their scent stays on longer, thereby saving consumers money as they need to use fragrances less often.

Companies expand product lines in 2019, with Yanbal also launching online fragrance selection service

Yanbal Bolivia launched new versions of its classic fragrances Temptation, Osadia, and Ohm in 2019. The company also launched new brand Savour, which focusses on middle-aged men but is accessibly priced even for younger men.

2020 AND BEYOND

COVID-19 impact

Sales of fragrances are now expected to decline by 11% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares to an expected 3% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.

Affected products within fragrances

All product areas across fragrances are expected to see sharp double-digit retail volume and value decline at constant 2019 prices in 2020 over the previous year, as a result of the COVID-19 pandemic. The hardest-hit product areas will be unisex fragrances, which were increasingly fashionable towards the end of the review period but have few loyal customers.

Recovery and opportunities

Following the sharp decline seen in retail volume and value at constant 2019 prices in 2020, due to the impact of the COVID-19 lockdown and increased economic uncertainty, there will be a degree of recovery in 2021. However, growth will remain muted for the remaining years of the forecast period.

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