Health and Beauty Specialist Retailers in Latvia

PROSPECTS

Demographic changes impact pharmacies in the country, who turn to e-commerce to boost sales

Latvia’s population is both rapidly ageing and shrinking. Many consumers, especially pensioners, are having to try and save money on other products, to be able to pay for expensive drugs.

As Latvians buy drugs from other nations, value sales in health and beauty specialists suffer

Internet-savvy buyers in Latvia are using online drugstores to buy medicines from other European countries, with groups of people often getting together to place a joint order. In search of the best prices, buyers are analysing the offer of foreign pharmacies and are mostly focusing on those medicines which are also available and well-known in Latvia.

The growing health and wellness trend boosts growth levels for health and beauty specialists

The growing global health and wellness trends have resulted in many Latvians adopting a healthier lifestyle. However, historically, many Latvian women have used fewer cosmetics than women elsewhere in Europe, while also being more attracted to ecological and more natural offerings.

COMPETITIVE LANDSCAPE

Sentor Farm remains the top player in overall health and beauty specialist retailing

In 2019, Sentor Farm remained the leading players on the broader health and beauty specialist channel. The player operates the chemist/pharmacy banner Meness Aptieka.

Drogas remains the leading player in beauty specialist retailers, however, the future of Dzintars is uncertain

In 2019, Drogas was the second-placed player in health and beauty specialists, being the leading player in terms of value sales and number of outlets in beauty specialist retailers. Drogas offers a wide range of products, particularly beauty and personal care items, but also tissue and hygiene goods.

Chemists/pharmacies drive the growth of health and wellness specialists, as e-commerce pharmacies expand

The review period witnessed the ongoing growth of chained chemists/pharmacies such as Meness Aptieka, BENU and A Apotheka. These robust players are acquiring independent pharmacies in smaller towns and villages.

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