Premium beauty and personal care products saw a sharp decline in sales in 2020 following the prolonged period of beauty specialist store closures. As consumers spent more time at home in 2020, either as a result of the lockdown or simply as a preventative health measure, demand for premium colour cosmetics and premium fragrances fell by double-digit percentage rates in line with the fewer opportunities Kazakhstanis had to interact with others outside their homes.
Reacting to the increased demand for products to replace the lack of spa procedures, relieve stress and improve physical health, premium producers shifted their focus from colour cosmetics and fragrances towards skin care product lines. Estée Lauder, Shiseido and LVMH Moët Hennessy Louis Vuitton all improved their portfolio of skin care products, offering a wide range of products to address different skin problems.
L'Oréal Kazakhstan remained the leading player in premium beauty and personal care in 2020. Thanks to its wide distribution network and presence in pharmacies, which stayed opened during lockdown, with its premium dermocosmetics brands, the company managed to capture more share in current value terms in 2020.
Premium beauty and personal care is expected to see an immediate return to positive growth from 2021, with its forecast period annual sales increases being ahead of those of mass beauty and personal care products, indicating the revival of demand for premium products. The development of beauty specialist retailers over the forecast period is also expected to encourage dynamic growth of premium beauty and personal care.
Having not seen its growth rates dip into negative territory in 2020, premium skin care is a category that does not need to make up any lost sales over the forecast period. It will continue to record positive growth rates over the forecast period, up slightly on those seen in 2020.
Cosmetics associated with scientifically approved formulas and that are dermatologically tested were gaining more trust among Kazakhstani consumers during the pandemic. The limited number of shops remaining open during the lockdown period also contributed to some consumers looking to experiment with products sold in pharmacies.
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This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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