Health and beauty specialist retailers In Portugal are benefiting from improving living standards as a result of the improved economic climate over the last few years. With rising disposable incomes, consumers have become willing to spend more on beauty and personal care products, either to enhance their appearance or help prevent various health issues.
The performance of health and beauty specialist retailers is heavily reliant on brands sold or owned by retailers. As a result, marketing is becoming an increasingly important tool, particularly interaction with bloggers and social media platforms.
Men’s beauty products offer significant potential for growth in Portugal and are likely to have a bigger impact on general health and beauty specialist retailers over the forecast period. According to a survey carried out by L’Oréal Portugal in July 2018, 75% of Portuguese men use beauty products, although more than half still use unisex ranges.
Optical goods stores continued to record positive results in 2018, with the channel accounting for three of the top five companies in health and beauty specialist retailing as a whole. GrandVision Portugal’s Multiopticas brand ranked second only to PHARMACONTINENTE Saúde e Higiene’s Well’s banner.
Thanks to a positive economic climate consumer confidence and spending in Portugal are rising. This positive scenario has been encouraging health and beauty specialist retailers to invest in new outlets as well as the refurbishment of existing stores.
Various groups present in the grocery retailing channel have been taking advantage of the consumer trust built up through years of investment in Portugal and have ventured into health and beauty specialist retailing. Drugstores/parapharmacies such as Clarel, which is owned by Dia Portugal Supermercados, have been performing well.
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