Premium beauty and personal care was severely impacted by COVID-19 in 2020. With many people losing their jobs due to the economic fallout of COVID-19 and many other sufferings a decline in disposable incomes, demand for premium products dropped sharply.
Imported products and brands continue to dominate sales of premium beauty and personal care in Ecuador. These foreign brands tend to have a better public image and are well known for their superior quality and high performance.
The end of the review period saw premium beauty and personal care register further development as the positioning of premium products and brands continued to improve. In particular, products with a more overt premium image and corresponding premium price tags were emerging strongly in product areas such as baby and child-specific products and men’s grooming.
Premium beauty and personal care was hugely impacted by the pandemic, with current value sales falling significant in 2020. As a result, any pick up in sales will reflect in quite healthy constant value growth.
Towards the end of the review period, various interesting developments were seen in the retail distribution of beauty and personal care products in Ecuador. In particular, chained beauty specialist retailers that are dedicated mainly to premium brands emerged strongly, including store-based retailers with an omni-channel retailing strategy and online-only e-commerce specialists such as Hann Store.
Dermocosmetics are also expected to see high value growth over the forecast period, as health meets beauty. COVID-19 has made the world more health conscious and aware of how environmental factors such as sunlight and pollution can affect the skin.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Ecuador 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 Ecuador, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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