Premium Beauty and Personal Care in Guatemala

PROSPECTS

Drugstores is seeing strong growth in premium beauty and personal care

Drugstores/parapharmacies is becoming the leading channel for several premium personal care brands that are present in the market – such as Vichy and La Roche-Posay (L’Oréal Guatemala) in skin care and hair care and Oddent and Cariax in oral care, amongst others. The strategy of these brands has been to advertise them amongst dermatologists and dentists, who prescribe them to their patients.

Premium brands have a small consumer base

The high unit prices of premium beauty and personal care brands mean they are affordable by only the small higher-income consumer base in Guatemala. The majority of retailers are concentrated in shopping centres in Guatemala City.

Premium skin care registers the strongest growth rate in 2017

Amongst premium beauty and personal care products, skin care registered the strongest growth in current value terms in 2017. Increased interest amongst consumers in taking care of their face and skin, along with a wider variety of products and value-added benefits, were the main growth drivers in this category.

COMPETITIVE LANDSCAPE

L’Oréal Guatemala leads premium beauty and personal care

In 2017, L’Oréal Guatemala led premium beauty and personal care in value terms. The company has a wide product portfolio and participates in several categories, such as skin care, hair care, fragrances and colour cosmetics.

Only international brands are considered premium in Guatemala

Currently, all premium beauty and personal care brands sold in Guatemala are international, such as L’Oréal, Carolina Herrera, Hugo Boss, etc. Higher-income consumers in Guatemala are highly influenced by US fashion trends, and associate international brand names with premium quality.

New players are seen in the market

Even though the consumer base for premium beauty and personal care products is small in Guatemala, it is a category that is showing growth and dynamism. In 2017, Oakland Mall, located in Guatemala City, inaugurated new stores, amongst which was a store for Kiehl’s, a brand that sells natural skin, body and hair care products.

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