Premium fragrances was the strongest performer in 2021 within Chilean beauty and personal care. This was driven by access to additional disposable incomes as consumers were permitted to make withdrawals from the pension system, in addition to the fact that distribution channels that tend to retail premium products, such as department stores and beauty specialists, were able to operate at close to normal levels following restrictions the previous year as a result of the pandemic.
L’Oréal continued to comfortably lead premium beauty and personal care in 2021, supported by its solid sales structure, which enabled the player to gain notable share. This was supported by its development of e-commerce sales and the return to more normal operations for department stores; sales of many premium products are linked to store-based retailers because consumers often require guidance and recommendation from a trained specialist.
Albeit from a lower sales base, premium beauty and personal care significantly outperformed the mass segment in 2021, benefiting from consumers’ higher disposable incomes due to access to financial liquidity, and the reopening of specialist channels where their presence is strongest, including the counters of department stores. This growth was also supported by the marketing strategies of major players, which were aware of consumers’ additional incomes and therefore, developed campaigns that included promotions and discounts in addition to other types of benefits to encourage purchases.
Despite being driven by store-based sales, premium brands are likely to increasingly adopt omnichannel strategies in 2022, given the certain possibility that retail will be reconsidered in new ways, primarily through smaller stores, greater digitisation and higher investment in last mile logistics. New consumer demands have led to the greater integration of omnichannel strategies, allowing brands to interact and connect in innovative ways through both physical and digital worlds.
2021 reinforced trends in the premium segment that include the offer of more natural and sustainable products, with increasingly educated consumers predicted to focus on quality in addition to service. In order to meet customer service objectives, it is important that brands are active in their response to consumer demands.
E-commerce experienced particularly important expansion during 2020-2021 for premium brands. This is an opportunity for companies to develop more dynamic and friendly e-commerce platforms that can become attractive tools to enhance the shopping experience for the consumer.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Chile 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.
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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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