As consumers continue to face increasing financial pressure due to higher prices, a shift from premium products to cheaper mass alternatives can be expected over the forecast period as many mass producers are now offering products with increasing quality. In fragrances, consumers may increasingly opt for a Zara perfume with a similar scent to their preferred premium brand, or use a body spray on a daily basis and save their premium fragrance for special occasions; whilst in colour cosmetics, consumers of premium products may trade down to mass for certain items, having identified which products really need to be premium.
Consumers are expected to be increasingly influenced by price promotions and will be prepared to wait for a discount before buying their product of choice, or switch to a different brand if it is available at a discounted price. Brands are expected to offer promotions, or increasingly include their products in kits in order to encourage consumption and loyalty over the forecast period.
Informal channels are expected to continue to grow over the course of the forecast period to 2027 as the rising cost of living influences consumers’ purchasing behaviour. More consumers are expected to resell products through social networks as a way of earning an additional income, and contraband is expected to continue to increase its presence as consumers are not concerned about a product’s origin as their main focus is finding the lowest price.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Costa Rica 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 Costa Rica, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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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