Mass beauty and personal care will be negatively impacted as a result of the COVID-19 pandemic in 2020 overall as current value sales decline dramatically. The main cause of this was due to lockdown between March and May which has resulted in many consumers using fewer products as they spent most of their time at home.
At the beginning of the COVID-19 pandemic, stockpiling for basic everyday products such as liquid soap, body wash/shower gel, deodorants and shampoos was seen. Product areas primarily associated with hygiene have been viewed as essential by many consumers throughout 2020 meaning the financial repercussions of the pandemic has had little impact.
Adoption of new technologies and e-commerce within mass beauty and personal care companies has increased in 2020, responding to lockdown and the ongoing regulations in Bolivia. For example, many direct selling companies have adopted a virtual tool to reach consumers looking for proximity using virtual catalogues via their e-commerce platforms.
Mass beauty and personal care is expected to rebound from as soon as 2021, however, a full recovery is not expected until later in the forecast period. Over the forecast period as a whole, sales will see an increase, indicating the resiliency of many affordable mass brands.
In terms of new product developments over the forecast period, there will be a large emphasis on mass beauty and personal care products related to specific hygiene needs. As anxieties surrounding the virus continue, consumers will consciously seek products that claim to prevent transmission of the virus.
Over the forecast period, new technologies and e-commerce will keep encouraging impulse sales of mass beauty and personal care products. Adoption of tools via e-commerce during 2020 will keep increasing for mass beauty and personal care products, thus expanding the number of players and products within companies.
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Understand the latest market trends and future growth opportunities for the Mass Beauty and Personal Care industry in Bolivia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Mass Beauty and Personal Care research and analysis database.
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