Premium Beauty and Personal Care in Guatemala

PROSPECTS

Prestige is the main driver of growth in the premium segment

The prestige and good quality associated with the use of premium beauty and personal care products is the main factor which drives sales in this segment. Premium brands are currently dominated by international brands such as Lancôme, Carolina Herrera and Chanel, which have worldwide prestige.

Premium beauty and personal care is more prevalent in Guatemala City

Premium beauty and personal care products cater to a small consumer base of upper-income consumers. Most stores that sell these products are concentrated in Guatemala City; usually seen in stand-alone stores, shopping centres and department stores.

Travelling is the main barrier to growth for premium products

Premium beauty and personal care is extremely small in Guatemala, mainly because it caters to a very small group of upper-income consumers. Due to having high disposable incomes, these consumers usually travel on a periodic basis, and often prefer to purchase these brands whilst travelling abroad, since taxes and import costs make these products much more expensive if purchased in Guatemala.

COMPETITIVE LANDSCAPE

Perco leads premium beauty and personal care

Perco, through its Fetiche stores, continued to lead premium beauty and personal care in Guatemala in value terms in 2018. The company operates stores in Guatemala City, and offers online and WhatsApp retailing, which allows it to capture share of the market in areas where it does not have stores.

Innovation follows international trends

All the premium beauty and personal care products sold in Guatemala are imported. Therefore, innovations and new product launches follow international trends.

Internet retailing

Since premium beauty and personal care products cater to consumers with high disposable incomes and a high level of education, these are usually consumers with access to credit cards, who understand how the internet works. Therefore, purchases are commonly carried out on international websites such as amazon.

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