There was an intensified focus on grooming among men in Bolivia at the end of the review period, with this supporting ongoing sales growth for men’s grooming pre COVID-19. Men’s hair care in particular saw outstanding current value sales growth in the year.
Men’s grooming will be heavily impacted by the COVID-19 pandemic in 2020 overall. During lockdown in the first half of 2020, many men felt less need to maintain their usual grooming regimes, with socialising away-from-home halted and many working from home.
Throughout 2020, new product developments have been low within men’s grooming as players have been focusing on generating sales rather than innovations. However, within men’s skin care, Beiersdorf Bolivia has introduced its new Nivea Men body cream in 2020.
Following the destruction witnessed because of the COVID-19 pandemic and subsequent economic uncertainty, men’s grooming will achieve a degree of recovery in 2021 and will see good growth for the remainder of the forecast period. Consumers, however, will remain highly price-sensitive, and therefore many will continue to limit spending in this area.
Over the forecast period, players within men’s grooming are expected to heavily focus on new product developments which will encourage more men to focus on their grooming regimes. Developments will be directed mostly for the most developed product areas within the mass segment, for example, fragrances, shaving and deodorants.
Direct selling will recover post pandemic, especially as the financial implications of the pandemic continue as the work force is expected to grow as cash-strapped consumers look for new ways to earn money. Prior to the pandemic, direct selling companies introduced a large new variety of men’s grooming products including men’s hair care, shaving and skin care, and this is expected to continue in the years to come.
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Understand the latest market trends and future growth opportunities for the Men's Grooming 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 Men's Grooming research and analysis database.
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