Premium Beauty and Personal Care in Taiwan

2020 IMPACT

Positive growth seen in 2020 as COVID-19 pandemic has minimal impact on sales

Premium beauty and personal care recorded a robust sales performance in 2020 as the impact of the COVID-19 pandemic on category sales was moderate, at best. Nevertheless, it should be noted that sales did come under pressure during the first half of the year as many Taiwanese consumers were particularly concerned about the risk of contagion associated with spending time outside of the home.

Price discounting by department stores boosts premium beauty and personal care

One of the main reasons that premium beauty and personal care outperformed mass beauty and personal care over the course of 2020 is that some of the country’s leading department stores engaged in heavy price discounting for these products during the second half of the year in an effort to attract consumers. Department stores remains the most important retail distribution channel for the leading names in premium beauty and personal care.

Premium brands respond to the COVID-19 crisis by focusing more on e-commerce

With consumer demand generally shifting heavily away from store-based retailing and towards e-commerce during 2020, the leading brands in premium and beauty and personal care had little option but to invest in the development of strategies to maximise their online presence and offer consumers multiple online purchasing options. While the general shift towards e-commerce has been in evidence in Taiwan for some time, the impact of the COVID-19 pandemic during 2020 accelerated this process massively.

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