Following a notable decline in value sales terms in 2020, particularly in comparison to the mass segment, due to the closure of beauty specialists, the easing of restrictions and growing confidence in the local economy and financial security of Swiss consumers, resulted in a more positive performance for premium beauty and personal care in 2021, as they started to increase their spending on non-essentials and premium products again.
As an opposing trend, many local consumers have felt the need to break out of their previous shopping abstinence, and due to pent-up demand wanted to compensate for lost opportunities, driving up value sales of premium beauty and personal care in 2021. Many consumers felt they had been missing out in the past year and allowed themselves to splurge on premium products, including fragrances, and skin care.
Similar to mass beauty and personal care, L'Oréal Suisse SA retained its overall leadership of the premium segment in 2021. The player’s wide renowned brand portfolio, including well-trusted brands such as Lancôme, Yves Saint Laurent, Biotherm, Vichy and La Roche-Posay – with the latter two being dermocosmetic brands and which are gradually growing in significance, ensured a continued strong presence across various categories, reaping the benefits of a gradual recovery.
With the gradual waning threat of the pandemic in Switzerland, a further relaxing of restrictions and an easing of associated negative effects on the local economy, and personal wellbeing (seclusion, depression due to lack of direct human interaction, financial insecurity, lack of entertainment and physical activity) premiumisation is expected to regain its momentum as a relevant trend in the country. Local consumers are set to choose premium beauty and personal care out of a feeling of “entitlement” or compensation for the negativity of the previous two years.
Consumers’ increased demand for product quality and visible effects as well as safety (supporting health and wellbeing) will contribute to a more positive year-on-year development for premium beauty and personal care over the forecast period. Premium skin care in particular, is set to benefit from these factors, while the positive development of premium colour cosmetics will be supported by the growing importance of social media and virtual representation (especially from the waist up) as some employees continue to adopt hybrid working measures by spending some of the week working from home.
As travel restrictions will most likely be entirely lifted and tourism is bound to resume over the early part of the forecast period, premium beauty and personal care is set to record a stronger performance in Switzerland. Many premium brands heavily rely on sales through travel-related outlets (airport boutiques) and small independent beauty specialists, which were the most negatively channels affected by lockdowns and restrictions during the pandemic.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Switzerland 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 Definitions
This report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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