In 2021, there was an increase in the current value sales of health and beauty specialist retailers. Value sales of beauty retailers recovered, as outlets reopened after several months of mandated closure in the previous year.
PSP Group continued to lead in terms of value share among health and beauty specialist retailers in 2021, using its significant financial resources to boost growth and brand awareness through the funding of strong marketing and advertising campaigns. The company’s strong financial position also allows it to fund frequent discounting programmes and lotteries for its customers.
Health and beauty specialist retailers rely on imported products to keep their shelves stocked, and prices depend on shifting currency exchange rates. Even medicines that are produced in Georgia are affected, as most of the ingredients used in locally-produced medicines are imported.
Health and beauty specialist retailers are expected to register healthy value growth over the forecast period. Beauty specialist retailers are anticipated to register higher value growth, especially as foreign tourists start visiting again.
Chemists/pharmacies remains the largest channel within health and beauty specialist retailers in 2021, with growth further bolstered by COVID-19 and the essential nature of its medical product offering. Even before the pandemic, Georgians were increasingly becoming aware of their health, fitness and nutrition, driving growing demand for products such as vitamins and dietary supplements.
The increasing number of shopping centres is supporting growth in beauty specialist retailers, as the centres provide attractive retail for the growing number beauty specialists, such as branded fragrance and cosmetics shops. This contributes to brand awareness and makes products more appealing and accessible to domestic consumers.
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Understand the latest market trends and future growth opportunities for the Health and Beauty Specialist Retailers industry in Georgia 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 Georgia, 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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