While most retailers registered constant value decline due to soaring inflation in 2021, health and beauty specialists registered positive value growth, largely driven by the uptake in spending on beauty products. With society opened up once again and people socialising and returning to offices to an extent, consumers spent more on key beauty products such as make-up and fragrances.
One trend that has emerged from the pandemic is that drugstores/parapharmacies are moving to suburbs away from city centre locations. Players believe that the decline in footfall experienced during the pandemic in city centre locations will continue to an extent in the future, as more people continue to work from home and online shopping gains further value share.
Vitamins and dietary supplements retailers continued to register a strong performance in 2021, as the pandemic lingered, and consumers looked to boost their immune system and look after their general health. In addition, optical goods store also registered positive constant value growth, as consumers who had deferred eye tests during the 2020 lockdowns, booked appointments in 2021 and as a consequence then purchased prescription spectacles.
E-commerce received a fuel injection from the 2020 lockdowns and will continue to register healthy value sales. Retailers have upped their game and are continually developing the online infrastructure and for instance offer special online promotions to encourage sales and these strategies will continue over the forecast period.
One of the strategies that several players have used to combat consumption contraction due to soaring inflation is the development of private label ranges in products that previously did not have a private label option. In this way, different chains have seen strong growth in private label, as consumers take advantage of buying these products at much lower prices than in branded products.
Health and beauty specialist retailer sales tend to concentrate around large chains, and in economically challenging times, only those chains that can offer their customers big discounts and promotions are likely to survive. Over the forecast period, health and beauty specialist retailers will become even more consolidated, with large chains with more branches faring better, due to economies of scale.
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Understand the latest market trends and future growth opportunities for the Health and Beauty Specialist Retailers industry in Argentina with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Health and Beauty Specialist Retailers industry in Argentina, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This is the aggregation of chemists/pharmacies, drugstores/parapharmacies, beauty specialist retailers, optical goods stores and other healthcare specialist retailers.See All of Our Definitions
This report originates from Passport, our Health and Beauty Specialist Retailers research and analysis database.
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