Men's Grooming in Bolivia

PRE-COVID-19 PERFORMANCE

Men’s hair care benefits from growing focus on grooming and new product development in 2019

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 in 2019. Men’s hair care in particular saw outstanding current value sales growth in the year.

Men’s grooming product lines extend in response to consumers’ changing preferences in 2019

Men’s skin care value sales remained relatively small in 2019 but saw some growth, as millennial men increasingly focused on their appearance and became more concerned about their skin’s appearance and aging. This product area was mainly driven by multinational companies.

Men remain open to innovation in men’s deodorants in 2019

Sales of men’s deodorants increased healthily in 2019 due to continuous developments in fragrances and new antiperspirant technologies encouraging a stronger uptake by consumers. Generally men are aware of new developments in deodorants and willing to try new options.

2020 AND BEYOND

COVID-19 impact

Sales of men’s grooming are now expected to decline by 5% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares to an expected 3% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.

Affected products within men’s grooming

Men’s fragrances is expected to see double-digit retail volume and value decline at constant 2019 prices in 2020, with many consumers trading down to mass men’s deodorants as a more affordable alternative. Furthermore, men’s skin care will also decrease in retail volume and value at constant 2019 prices as these products may not be seen as essential products.

Recovery and opportunities

Following retail value decline at constant 2019 prices in 2020, as a result of the COVID-19 lockdown and economic uncertainty, overall men’s grooming will achieve a degree of recovery in 2021 and will see good growth for the remainder of the forecast period. Consumers are likely to remain highly price-sensitive, however, and many will continue to limit spending in this area.

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