Premium Beauty and Personal Care in Malaysia

PROSPECTS

Premium skin care

Consumers were still showing strong demand for premium skin care products in 2018. Premium skin care brands such as Sulwhasoo, Estée Lauder and SK-II continued their aggressive expansion plans, with a higher number of new outlets to meet the rising demand.

A prestige shopping experience

International premium beauty and personal care players are seeking to enhance their competitive position by providing a prestige shopping experience to consumers. The new Tom Ford Beauty stores boast that customers can experience the fragrances in its artisanal Private Blend Collection.

Personalisation for differentiation

During the forecast period, premium beauty and personal care players are expected to distinguish their brands from rivals through a more prestige shopping experience. Different kinds of personalisation services are likely to be offered, such as products which are available to try, or professional advice to cater to different consumers’ needs, to help differentiate their premium beauty and personal care brands.

COMPETITIVE LANDSCAPE

SK-II drives sales

SK-II from Procter & Gamble continued to lead premium beauty and personal care in value terms in 2018, thanks to its high number of outlets in Malaysia. Besides beauty counters in department stores, such as AEON, Isetan and Parkson, the brand also targets the opening of stand-alone counters or stand-alone stores within leading shopping centres such as IOI City Mall and Pavilion KL.

Stand-alone brand stores and internet retailing

Offline retail specialists dominated premium beauty and personal care in Malaysia in 2018. With physical stores, premium beauty and personal care players focused on targeting consumers with more personalised services to differentiate from their competitors.

Forecast period trends

Over the forecast period, the rise of premium beauty and personal care brands, such as Tom Ford Beauty and Sulwhasoo, as well as the entry of further premium brands, such as Clé de Peau Beauté, is expected to impact the sales of SK-II. This is mainly because consumers are now spoilt for choice in terms of premium beauty and personal care brands, and are offered more innovative products as part of their skin care regime.

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