The Coronavirus (COVID-19) crisis in Serbia more harshly impacted premium beauty and personal care than mass beauty and personal care in 2020. Many consumers were quick to cut back on or eschew purchases of some premium products as lockdowns, face mask wearing and social distancing, remote working and distance learning and limited social opportunities militated against usage.
There was another specific factor that informed the strong rebound in retail current value sales of premium beauty and personal care in Serbia in 2021. Consumers were compelled or felt the desire to use beauty and personal care products as society reopened and they returned to lifestyles more akin to the pre-pandemic period.
Many premium products were offered at discounted prices to attract the attention of consumers during 2021. For example, at the end of 2021, chained drugstores/parapharmacies operators dm-Drogerie Markt doo and Lilly Drogerie doo offered many fragrances at discounts of up to 50%.
Premium beauty and personal care is expected to see good and steady retail value (constant 2021 prices) growth through the forecast period. While the growth rate in 2022 is set to be significantly slower, this is informed by the strong 2021 rebound from the sharp decline in 2020.
Manufacturers and retailers are expected to continue to use discounts to pique interest in premium beauty and personal care products. Several large producers of premium beauty and personal care offered their products at discounted prices through large specialist chained operators like dm-Drogerie Markt and Lilly Drogerie, but also grocery retailing chains and other channels, in 2020.
There are likely to be numerous new product launches within premium beauty and personal care as economic conditions improve in Serbia and premium products increase in popularity among consumers. New product developments have been regularly launched under key brands like Vichy and L'Oréal Professionnel, and direct sellers Avon and Oriflame have continued to include an increasing number of premium products in their portfolios.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Serbia 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 DefinitionsThis report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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