One of the categories where premium products suffered the greatest decline in 2020 due to COVID-19 was fragrances. Although there was a significant increase in sales through the e-commerce channel, the category is very sensory, so the closure of department stores for such a long period resulted in the pronounced decrease of premium fragrances during the course of the year.
Premium products in colour cosmetics suffered a greater sales decline in 2020 as the COVID-19 pandemic limited the use of make-up due to home seclusion and the wearing of masks significantly impacted the use of lip products and facial make-up. Also, since department stores were closed, these products were left without their main sales channel - they are POS products and it is often necessary for consumers to sample them before buying.
Another element that premium products had to deal with in 2020 was the growth of mass products. Mass products had many more sales alternatives than premium products, including direct sales, which continued throughout the pandemic and which generated new digital sales platforms, and the migration to supermarkets and hypermarkets.
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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.
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This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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