Premium beauty and personal care achieved positive growth in 2021 as it began its recovery from the significant decline seen in 2020, aided in large part by the role taken by parapharmacies. Since the start of the COVID-19 pandemic, drugstores/parapharmacies have become more important retailers for premium beauty and personal care products as the channel has been permitted to stay open throughout lockdown in Bolivia.
During 2020, following the outbreak of COVID-19 in the country, beauty specialist retailers in Bolivia developed e-commerce platforms to reach consumers during pandemic restrictions. During 2021, the e-commerce platforms of beauty specialist retailers were promoted mainly through social networks.
Importaciones y Tiendas Tajj with its brand Cosmet (a chained beauty specialist retailer), which has stores and an e-commerce platform, remains the most representative player in premium beauty and personal care products. During 2021, the company continued with launches of products to create awareness among its consumers.
Premium beauty and personal care will continue to achieve positive growth over the forecast period but will only recover the pre-pandemic level of value sales (at constant 2021 prices) in 2026. Sales growth will be hampered by consumers cutting back on spending and from ongoing price sensitivity, with discounting likely to intensify further as companies seek to drive volume sales growth.
Before the pandemic, consumers of premium beauty and personal care used to buy their favourite products or the latest product launches at duty free and in other countries, generally at lower prices. This changed upon the outbreak of COVID-19 in Bolivia due to restrictions imposed on travel to other countries.
The most successful products are expected to be those that consumers view as offering benefits that justify higher prices, rather than prestige brands. Premium products are expected to keep increasing in the forecast period.
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Premium Beauty and Personal Care
This is the aggregation of premium colour cosmetics, fragrances, deodorants, skin care, sun care, baby and child-specific products, bath and shower and hair care.See All of Our Definitions
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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