The measures taken to contain the spread of COVID-19 have not only forced consumers to reassess their personal hygiene routines, but it has also caused many households to reign in their spending. Many people in Austria are concerned about the economic impact of the COVID-19 pandemic with many businesses struggling to survive, while there is also widespread job and wage insecurity.
Trapped at home due to COVID-19 and the government’s measures to contain it there was an increase in consumers going online to purchase premium beauty and personal care. Concerned about the loss of business in store-based retailers and the general dip in demand for premium beauty and personal care – with many consumers downtrading – there was a notable rise in retailers offering price discounts and promotions online.
Premium hand care was one of the few areas to register growth in premium beauty and personal care in 2020. A key factor behind this was that due to the increase in handwashing and the use of more abrasive antibacterial products, such as hand sanitisers, consumers found that their hands were becoming sore and irritated.
Sales of premium beauty and personal care are expected to rebound fairly swiftly over the forecast period, with sales likely to start on the path to recovery as key distribution channels such as department stores and beauty specialist retailers become more accessible again. Growth will likely be closely tied to consumer confidence with the rolling out of the government’s vaccine programme and the easing of restrictions likely to spur delayed purchases of products such as premium fragrances and colour cosmetics.
E-commerce blossomed during 2020 driven by necessity, with consumers often unable or unwilling to visit stores, while many stores were also closed during the lockdowns. With many retailers and beauty and personal care companies having increased their investment in digital services during the COVID-19 pandemic it is likely that e-commerce will continue to draw sales away from store-based retailing over the forecast period.
With e-commerce expected to thrive, store-based retailers will likely need to up their game in order to attract consumers back into stores. When it comes to premium beauty and personal care many shoppers are attracted to stores where they can test products before they buy them as well as receiving consultations from trained sales staff.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Austria with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium Beauty and Personal Care industry in Austria, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page