Premium Beauty and Personal Care in Turkey

PROSPECTS

Banning of credit card instalments hinders premium growth

The recent rise in premium sales share has slowed following legislation banning credit card instalments in September 2016. It is expected that mass growth will be higher than for premium products as the credit card instalment ban is likely to continue, despite the efforts of beauty specialists.

Premium beauty and personal care for men to support growth

The fact that Turkish men are becoming increasingly image conscious, from skin care to hair care, helped boost premium sales over the review period. Traditionally, men have preferred to spend money on luxury timepieces, accessories and writing instruments.

Millennials to drive premium sales

Premium beauty and personal care companies are looking to attract consumers at an earlier age. Producers increasingly see millennials as future consumers and are tailoring their ranges to their preferences (eg environmentally friendly).

COMPETITIVE LANDSCAPE

L’Oréal becomes leading premium player

L’Oréal was the leading premium company in 2017, after Procter & Gamble divested 42 brands to Coty Brands, with ranges such as Hugo Boss set to benefit from greater synergies with Coty. L’Oréal aims to maintain its leading position by launching new sophisticated products.

New innovative combination products

Added benefits, such as extra moisturising, firming, anti-stress, exfoliating, anti-aging and whitening will continue to gain popularity. Also, due to convenience and time constraints, instead of buying three different products, consumers will increasingly opt for one brand which has many benefits, such as CC and BB creams.

Galeries Lafayette boosts premium demand

Premium beauty and personal care saw strong growth due to heavy advertising and the opening of new beauty specialist retailers and shopping malls, as well as increased availability, especially of luxury colour cosmetics and fragrances. Turkey’s new Galeries Lafayette cosmetics store provides a unique offer to consumers in turkey.

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