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Learn moreApr 2020
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Multibrand beauty specialist retailers such as Fedco and La Riviera are suffering from the rise of specialised chains, such as Cromantic and Blind in colour cosmetics, Bella Piel in skin care and L’Occitane in bath products. These brands are ramping up their presence in shopping centres, and are seeing more profits per sq m compared with Fedco and similar bigger stores.
Players within health and beauty specialist retailers are operating a strategy of providing additional experiences and services which make consumers believe that the channel considers their health and welfare. For instance, retailers are going beyond making sales and are making every moment with clients an advisory experience on their welfare and health, offering services designed to make consumers feel good.
Online optical goods stores are thriving in Colombia, due to the convenience they offer. This is thanks to several entrepreneurial initiatives, such as Coyote Vision, Lentesplus and Colgafas, which offer a try at home service with free delivery and pick-up (Coyote Vision), very affordable glasses and lenses and the ability to try glasses online (Colgafas) and a varied and specialised assortment of contact lenses (Lentesplus).
Cooperativa de Pequeños Droguistas (Coopidrogas) continued to lead health and beauty specialist retailers in value terms in 2019, which demonstrates the strength of the Colombian cooperative model in this channel. However, despite opening several more outlets, the company saw a slight value share decline, due to the stronger performance of smaller players such as Supertiendas & Droguerías Olímpica and Prosalon Distribuciones.
Droguerias y Farmacias Cruz Verde, which was second in the channel in 2019, saw significant value growth in 2019. This was supported by an aggressive expansion plan which included acquisitions such as Medicarte, a healthcare provider and provider of specialised high-cost drugs with a very interesting service model, which will expand the involvement of Cruz Verde in the backend of the health care system.
Although consumers’ shopping baskets have had to undergo some adjustments, especially due to the latest tax reform, purchases of goods and services related to health and beauty have remained intact. This is due to the importance that Colombians attach to these two categories, which they consider a priority in their basic basket.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Health and Beauty Specialist Retailers industry in Colombia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Health and Beauty Specialist Retailers industry in Colombia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Health and Beauty Specialist Retailers in Colombia market research report includes:
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This industry report originates from Passport, our Retailing market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.