Due to a new wave of the pandemic in mid-May in Taiwan, the entire country entered Alert Level 3, which continued until September, when it was lowered to Alert Level 2. Store closures and limited footfall resulted in a poor performance by department stores in Q2 and Q3, a particularly important distribution channel for premium beauty and personal care brands.
The marketing departments of premium brands were extremely busy in 2021 due to the lingering impact of the pandemic. To boost sales, in addition to increasing an online presence and offering a variety of promotions in line with different festivals, premium brands started to enter into cross-industry collaborations to enhance their image.
Premium brands are increasingly penetrating the online space. As a result of the pandemic, local consumers have been more reluctant to visit physical stores.
The application of AI technology is becoming increasingly common in daily life. In addition to virtual fitting rooms and wine tasting functions that have previously emerged, the “trying on” of colour cosmetics can now be facilitated through AI technology, and be customised to connect with e-commerce applications.
Looking ahead, many brands believe that offline stores will remain important after the pandemic, so they are expanding their outlets to capture share. In response to changes in consumption patterns, the trend toward large- scale beauty retail stores is expected to continue over forecast period.
With the further development of sustainability awareness, many local consumers are using cleaner and healthier products, encouraging an increasing number of premium beauty and personal care brands to address this trend. According to the non-profit organisation Climate Neutral, it is increasingly important for consumers who value sustainable beauty and skin care products that brands reduce their carbon footprint.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Taiwan 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.
If you're in the Premium Beauty and Personal Care industry in Taiwan, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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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