Premium beauty and personal care suffered heavy losses in 2020. This was partly because mass beauty and personal care was more widely available through channels that remained open during the height of the pandemic (eg supermarkets, hypermarkets, discounters and chemists/pharmacies), despite the fact that the government forbid the sale of non-essential products for a period.
Since the beginning of 2021, Peru has suffered from ongoing political instability, which is reflected in lower investment in the country and modest economic growth. In this context, there was a significant devaluation of the local currency which has affected the price of all beauty and personal care products.
Premium fragrances remains the key contributor to sales of premium beauty and personal care in Peru in 2021. As a result of home seclusion and the measures dictated by the Peruvian government to control the spread of COVID-19, sales of premium fragrances dropped dramatically in 2020.
Premium sun care, both for adults and for children, is seen to have excellent growth potential, with this being projected to be the most dynamic category over the forecast period. There are a growing number of health-conscious consumers in Peru that recognise the importance of protecting their skin (especially facial skin) from the sun's rays, and who are willing to invest in specialised products.
Manufacturers and retailers are expected to look to reinvent the shopping experience over the forecast period to attract shoppers back into stores, or to encourage them to spend more online. Before the outbreak of COVID-19, potential customers would often visit department stores or beauty specialists and take the opportunity to try creams, perfumes or make-up from prestigious brands, with this being seen as an essential part of the retailing experience.
Retailers of premium beauty and personal care are expected to increasingly follow an omnichannel strategy, with this trend already being seen in 2020/2021. Manufacturers and retailers are expected to focus more on online sales with e-commerce having excelled during the pandemic.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Peru with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Premium Beauty and Personal Care
This is the aggregation of premium colour cosmetics, fragrances, deodorants, skin care, sun care, baby and child-specific products, bath and shower and hair care.See All of Our Definitions
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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