Health and Beauty Specialist Retailers in Peru

2021 DEVELOPMENTS

Sales grow in health and beauty specialist retailers that focus on health care, both essentials such as medicines as well as vitamins and dietary supplements for preventive purposes

The performance achieved by health and beauty specialist retailers in 2020 differed between the categories depending on the level of affectation from COVID-19 restrictions and the reopening of their physical stores and capacities allowed. It was established that commercial establishments that sold essential products for the population (such as food, medicine, products for personal care and household cleaning) were able to continue operating within permitted mobilisation hours, while the others were forbidden to open entirely.

Incorporation of health care products into the product assortment improves sales during the pandemic

Due to the onset of the pandemic, consumers sought out health care products. Specialist retailers made changes to their assortment in order to meet this demand and attract customers.

E-commerce gains relevance during the pandemic but has yet to take off as consumers prefer face-to-face advice

Before the pandemic, e-commerce did not have much relevance in sales of health and beauty specialist retailers because this channel was not popular among consumers, who preferred to visit physical stores to buy medicines, beauty products, spectacles and vitamins and dietary supplements as they appreciated advice and the option of asking questions and receiving suggestions. For this reason, very few specialist retailers had a web platform to make online purchases, with only the leaders of drugstores/parapharmacies and vitamins and dietary supplements specialists having e-commerce platforms already implemented, in addition to being present in delivery apps.

PROSPECTS AND OPPORTUNITIES

Consumption of products that contribute to health care remains a significant opportunity for health and beauty specialist retailers

The pandemic accelerated the global trend that was already being experienced regarding the consumer shift towards a greater appreciation for health care, which implies a change in lifestyle towards eating healthier, playing sports, having adequate rest, and doing relaxation exercises. The health crisis and the fear of contagion made the consumer assimilate this trend more quickly in the understanding that having a healthier lifestyle would allow them to have greater strength to counteract illness and disease.

Growth opportunity for health and beauty specialist retailers driven by demand for health products and store expansion plans

Sales of health and beauty specialist retailers are expected to continue growing over the forecast period driven mainly by the promotion of health care products following the global trend, and in this sense, vitamins and supplements specialists will see further development.

E-commerce represents a good opportunity to develop this channel, but its optimal implementation takes some time

Although e-commerce is not extensively developed in health and beauty specialist retailers, despite rising considerably since the pandemic, players across the channel agree that it is important and is here to stay. As such, they will invest in its development, even if only slowly as consumers will need time to familiarise themselves with it for these types of products, with players having to incorporate personalised advice in an easy and inexpensive way, as this is very important for their customers.