Premium beauty and personal care was hugely impacted by COVID-19, with current value sales falling significant in 2020. With many people losing their jobs due to the economic fallout of the pandemic and others suffering a decline in disposable incomes, demand for premium products dropped sharply.
The reopening of shopping centres gave consumers greater exposure to products in 2021, stimulating sales. In addition, the resumption of social gatherings revived the need to look and feel good, which also benefited sales of premium products during the year despite the economic situation in the country.
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 last months of 2021 showed a clear recovery, with many premium beauty and personal care products even selling at their pre-pandemic levels. This momentum is expected to continue through 2022, reaching a level very close to 2019 sales.
A large number of premium products of European origin will benefit from the new progressive reduction of tariffs introduced in 2021 within the framework of the Trade Agreement with Europe. Shampoos, soaps and perfumes will have a progressive reduction in the next seven to 10 years, making them more affordable for the final consumer.
Most premium beauty and personal care products are imported and have a high price in Ecuador. However, in 2021, the tax on personal 4x4 imports (imports of less than USD400 and less than 4 kilos) was eliminated, so consumers only have to pay the shipping cost.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
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.
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 DefinitionsThis report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!