Sales of men’s grooming products were notably hampered in 2020 in Serbia by COVID-19, and negative retail value growth rates in all product categories clearly show that. Consumers staying at home and experiencing economic crisis were the most important direct factors that led to this.
In all parts of men’s grooming in Serbia, premium product categories saw high negative value growth rates, especially compared to the mass segments. This was caused by dropping disposable incomes and consumer confidence levels that made many consumers reluctant to pay for premium products.
Although brands continue to dominate the quite fragmented men’s grooming competitive landscape, the value share held by private label increased visibly in 2020, especially in men’s razors and blades. This was partly a consequence of consumers trading down to cheaper options due to the economic impact of COVID-19, and partly a result of the continued expansion of large retailing chains in Serbia, especially drugstore/parapharmacy chain dm-Drogerie Markt.
After a pretty bad year in 2020 for men’s grooming, 2021 will bring strong recovery as the pandemic will be coming to an end and consumers will quickly return to their usual work and social lives and purchasing habits. Positive value and volume growth is expected in all product areas from 2021 onwards as men pay more attention once again to their personal grooming as there will no longer be the requirement to stay and work from home and social occasions will resume.
Private label is expected to keep growing in popularity among Serbian consumers in 2021 and during the entire forecast period, and this will lead to an increase in its value share of men’s grooming. Besides the continued expansion of modern retailing chains, this will also be driven by increasing trust in the quality of these products among consumers.
Similarly to premium skin care in general in Serbia, premium men’s skin care will record very strong growth in 2021 and during the forecast period as a whole. The preference for premium skin care products is an important trend that will shape overall beauty and personal care in the coming years and this, combined with a very low growth base, is why premium men’s skin care will see such good result during the forecast period.
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Understand the latest market trends and future growth opportunities for the Men's Grooming industry in Serbia 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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