Premium Beauty and Personal Care in Slovakia

PRE-COVID-19 PERFORMANCE

E-commerce on the rise in 2019 while premium fragrances remain popular

E-commerce continues to expand in Slovakia with both retailers and brands looking to expand their online presence. E-commerce saw strong growth over the review period with it opening up the market to niche players offering premium beauty and personal care that might otherwise have struggled to find their way onto retailers’ shelves in Slovakia.

Rising incomes see consumers investing in their appearance

Premium colour cosmetics was one of the most dynamic categories in 2019 with new product launches and increased investment in online marketing helping to ramp up interest. Increased consumer confidence, buoyed by rising incomes and a stable economy, resulted in more consumers trading up from masstige brands and products to premium colour cosmetics.

L'Oréal maintains its lead with portfolio of well-known and trusted brands

L'Oréal Slovensko remained the clear leader in premium beauty and personal care in 2019 with it offering a wide portfolio of well-known brands such as Vichy, Lancôme and Giorgio Armani. Brands such as Kérastase and Biotherm also have proven results in hair care and skin care, respectively, with this being important to consumers in Slovakia who have certain expectations when spending out on premium products.

2020 AND BEYOND

COVID-19 impact

Sales of premium beauty and personal care are expected to decline by 2% in 2020 in 2019 constant value terms in light of the impact of COVID-19.

Affected products within premium beauty and personal care

Premium colour cosmetics and premium fragrances are expected to be the hardest hit categories in 2020, with social distancing meaning that the opportunity to show off these products has been severely restricted. Consumers are unlikely to apply expensive fragrances or make-up while around the home, while the mandatory wearing of face masks limits the need or willingness to apply make-up when outside of the home.

Recovery and opportunities

Once shops reopen and social distancing rules are relaxed it is anticipated that premium beauty and personal care will return to growth. Products such as colour cosmetics and fragrances are highly reliant on consumers being able to show them off and it is possible that there will be a surge in demand in 2021 as consumers make delayed purchases.

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