Premium Beauty and Personal Care in Spain

PROSPECTS

Need incentives to consume

Premium range sales showed a fair performance in 2018, but at a slower growth rate. However, value growth is set to improve over the forecast period.

Pharma brands vs non-pharma brands

The better macroeconomic indicators, which are expected to result in a steady GDP growth and the decline of the unemployment rate, are set to continue to be so over the coming years as Euromonitor International and international organisations point out. In fact, if political instability allows it, Spain is set to be one of the fastest- growing economies in 2019 and the following years.

Tailored ranges in the pipeline

Personalisation is a strong lever for premium beauty brands. To differentiate and anticipate consumers’ needs, premium brands are moving towards customising beauty.

COMPETITIVE LANDSCAPE

A local player on top

Puig’s leading position remained unchallenged in the Spanish premium beauty and personal care category in 2018, with the company extending its lead over its nearest competitor L’Oréal. Fragrances continued to drive strong growth for the company.

L’Oréal focusses on the experience side as it introduces new brands

L’Oréal benefits from a wide product portfolio across several beauty and personal care categories and a continued focus on the experience side of many of its premium beauty brands. The company keeps contracting its strategy in new product developments and ambassador publicity.

New ways of selling

Premium ranges need to keep on seducing consumers and taking into account that influencers are increasingly shaping the performance of different brands and categories. In fact, a growing number of luxury and premium players are focussing on these influencers to be their new retailers.

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