The rate of growth in retail current value sales of premium beauty and personal care slowed significantly during 2020. The economic shock of COVID-19 forced many local consumers to rein in their discretionary spending, which led a significant number of them to trade down from premium to mass brands in beauty and personal care.
Many premium beauty and personal care products are subject to high import taxes and are therefore very expensive locally. As a result, many affluent consumers who travel internationally purchase these products abroad, where they are usually cheaper.
Led by MAC Cosmetics, international brands continued to lead in premium beauty and personal care during 2020. International brands are popular with affluent local consumers who are prepared to pay a premium for products that perceive as being of superior quality.
The rate of growth in retail current value sales of premium beauty and personal care will accelerate during 2020 and for the remainder of the forecast period. As daily life begins to normalise, consumers will increase their discretionary spending and begin to socialise more frequently.
International brands will continue to lead in premium beauty and personal care during the forecast period, with local players unlikely to pose a significant challenge to them, as they cannot hope to match the glamour of the former. However, domestic players could find a niche in premium beauty and personal care by launching organic and all-natural offerings that appeal to growing consumer interest in sustainability and avoiding artificial ingredients that are perceived as being harsh on the skin.
Grey market imports and particularly counterfeiting will continue to have a significant negative effect on demand for premium beauty and personal care in Cameroon during the forecast period. There is little prospect of a concerted government effort to tackle counterfeit products in premium beauty and personal care.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Cameroon 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 Premium Beauty and Personal Care research and analysis database.
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