Premium Beauty and Personal Care in Hungary

PROSPECTS

Premiumisation is on the rise

The prospects for premiumisation widened significantly within beauty and personal care in Hungary over the review period. Thanks to increasing disposable incomes in the country, consumers could afford to spend more on higher-priced products.

Beauty intelligence

Premium brands have increasingly started to turn to technological solutions built on the latest trends (AI, AR, smart applications) in order to personalise their offerings, which resulted in the recent boost to the “beauty tech” industry. Personalisation is becoming even more in focus as smart technologies evolve.

Dermocosmetics for everyone

Popular pharma products mainly belong to the higher-priced premium segment. Such therapeutic products are known as offering treatments for specific skin concerns; however, their scope significantly widened over the last few years.

COMPETITIVE LANDSCAPE

L’Oréal maintains its lead

L’Oréal Magyarország managed to maintain its lead in premium beauty and personal care in value terms over the review period, including in 2018. It is a key player in both the mass and premium segments.

The online channel drives sales

The premium segment was able to benefit from the recent boost to online sales channels. Besides their exclusive stores, prestige and pharma brands started to increase their online presence over the review period.

Tech innovations

Choosing the most appropriate treatments based on physical conditions will define the future of skin care. Various smart devices have been launched for at-home daily usage, which are marketed as substitutes to salon services.

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