The leap in retail current value sales growth in 2020 was due to robust consumer demand amidst the Coronavirus (COVID-19) pandemic and related rising influence of the health and wellness trend on purchasing decisions. Health and beauty specialist retailers witnessed a further acceleration in retail current value growth in 2021, due to the cemented strong demand for health products in line with the exigencies of the pandemic.
Like beauty specialist retailers and optical goods stores, vitamins and dietary supplements specialist retailers rebounded strongly from a sharp drop in retail current value sales in 2020. The format registered the fastest retail current value growth among health and beauty specialist retailers in 2021.
Luxury Parfumerija, the first niche perfumery in Herzegovina, was officially opened in Mostar in late November 2021. The perfumery aims to satisfy perfume lovers with the offer of more than 20 of the world's most famous brands and perfumes in the world.
Over the early forecast period, health specialists are expected to continue to benefit from heightened health awareness and a self-prevention focus by the growing army of health-conscious consumers. These factors have been accelerated by the COVID-19 crisis.
In addition to Rx medicines and OTC products, younger, IT-savvy consumers are predicted to drive the demand for vitamins and dietary supplements. These consumers are likely to continue to pursue healthy lifestyles and spend more money on products that complement their healthy diets and daily routines.
Drugstores/parapharmacies, one of the most consolidated channels in health and beauty specialist retailers, is controlled by two retail chains. The channel has introduced many novelties, including the expansion of the concept beyond the traditional understanding of health and beauty products to include a wider definition of wellness, healthy nutrition and social responsibility.
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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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