Premium Beauty and Personal Care in Slovakia

PROSPECTS

Clinically tested premium products aid growth in 2018

Premium pharma dermocosmetics products grew in popularity in Slovakia in 2018, thanks to the developing health and wellness trend and the increasing purchasing power of consumers. Clinically tested products that are proven to work performed well, especially as the product assortment expanded over 2018.

Premium baby toiletries and colour cosmetics have strong growth prospects

Premium baby and child-specific products have particularly good growth prospects, because of a slowly increasing birth rate and the rising purchasing power of consumers, who will be able to provide their children with the best quality products. Therefore, new product launches and stronger online marketing are expected to be seen.

Distribution of premium quality brands favours internet retailing

Internet retailing is an increasingly popular distribution channel for premium beauty and personal care products. Sales have been aided by the growing popularity of buying products via online shops outside Slovakia.

COMPETITIVE LANDSCAPE

Beauty specialist retailers strengthen its share in 2018

Specialist beauty retailers which also operate their own online stores gained market share in 2018.

Consumers interested in product innovations that offer added value

Growing consumer interest in products that mimic benefits from other industries, such as packaged food, was evident in 2018. For example, Weleda Skin Food Lip Butter hydrating lip product for dry and damaged lips is an organic and perfume free lip balm that was introduced in 2018, as an extension to the already popular Weleda Skin Food brand.

More sophisticated marketing support necessary

Improved marketing support for premium products, and distribution via quickly growing channels, such as internet retailing and beauty specialist retail chains, will be required by premium brands in order to fend off the strong competition from masstige products. However, larger marketing budgets do not automatically mean success, and these will need to be managed carefully.

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