Fragrances in Colombia

PROSPECTS

Premium fragrances outperformed mass segment

There was a major shift in the Colombian fragrances category during the review period, with slower growth for mass fragrances compared with premium. The share of mass fragrances is predicted to continue to fall over the forecast period, as consumes opt for the affordable luxury of premium fragrances.

New retailers have changed consumer purchasing behaviour

Fragrances have seen the increased retail penetration of beauty specialists, and sales have also been driven by rising disposable incomes. Trading up by consumers has been driven by growth in medium-range and high-end stores in shopping malls, multi-brand beauty specialists, drugstores and access to online purchasing.

Renovation for mass fragrances

Due to the poor performance of mass fragrances during the review period, the use of promotional campaigns is predicted to rise. Direct sellers have been successful in developing a robust fragrance portfolio, and lead the category.

COMPETITIVE LANDSCAPE

Direct selling is the indisputably leader in fragrances

Direct sellers recognised that 2017 was not the best scenario for growth, as consumer confidence fell, and household consumption contracted due to the tax reforms in that year. It is expected that 2019 will represent a significant challenge as well, since the indications are that new financial reforms will put pressure on both consumers and companies.

Premium landscape remains fragmented

The competitive landscape in the premium segment is quite fragmented. La Riviera SAS ranks first, followed L’Oréal PROBECOL SA.

Small players introduce new packaging

The number of beauty specialist retailers increased in the latter part of the review period, leading to many small brands entering the category. Within fragrances, delivery formats are fairly standard, although the fragrance Nest has been presented in plastic rollerball packaging.

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