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Premium beauty and personal care posted notably stronger current value growth than mass products in 2019. This can be attributed to a smaller number of promotions and less discounting in premium beauty and personal care, although discounts did still attribute to sales.
The strength of premium brands was particularly apparent in fragrances in 2019, with consumer brand loyalty and a growing interest in niche and luxury fragrances reinforcing this trend. The higher sales share of premium fragrances can also be attributed to the exclusivity and higher quality of premium products.
Second-placed player Shiseido OOO and fifth player Clarins OOO were among the most active players in 2019, managing to strengthen their position during the year, investing the most in support activities for their products. In 2019, Shiseido Rus OOO launched Shiseido Future Solution LX Legendary Enmei Ultimate Luminance Serum, which claimed to make face skin radiant, resilient, moisturised and luminous.
Sales of premium beauty and personal care are expected to decline by 14% in 2020 in 2019 constant value terms in light of the impact of COVID-19. Despite premium beauty and personal care outperforming growth levels compared to mass beauty and personal care in 2019, COVID-19 in Russia will impact growth for premium products more than mass products, in 2020.
Sales of premium beauty and personal care products will suffer in 2020, through lockdown being in place, consumers spending more time at home and less time socialising, partnered with growing economic concerns.
With growth of premium beauty and personal care products predicted to record a significant decline in 2020 as a result of the COVID-19 pandemic, growth will recover in 2021, recording a positive result as consumers begin to feel confident purchasing premium goods. However, growth will be slightly higher in 2021, before becoming steady for the rest of the forecast period.
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Discover the latest market trends and uncover sources of future market growth for the Premium Beauty and Personal Care industry in Russia with research from Euromonitor's team of in-country analysts.
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If you're in the Premium Beauty and Personal Care industry in Russia, our research will save you time and money while empowering you to make informed, profitable decisions.
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This industry report originates from Passport, our Beauty and Personal Care market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.