In response to the COVID-19 pandemic, general purpose body care will respond well and see the most dynamic current value growth in 2020 overall. Mass body care products in particular have increased in consumption mainly due to the migration of direct selling consumers to store-based retailers.
As a result of the COVID-19 pandemic, facial care will see declining current value sales in 2020 overall. The main reason for this is because direct sellers have a high relevance within the selling of facial care and naturally because of the pandemic, direct selling players have faced difficulties.
Despite the financial repercussions of the COVID-19 pandemic, new product launches have been witnessed within premium skin care. For example, dermocosmetics have been expanding both in terms of portfolio and distribution.
As consumers begin to spend more time away-from-home once more as the lockdown eases, sales growth for skin care will begin to normalise. However, strong price-sensitivity will persist over the forecast period, with discounting likely to be widely used to drive sales growth for the leading brands and affordable domestic brands likely to attract a growing number of consumers back, particularly if they are able to offer effective natural ingredients.
Despite the damage the COVID-19 pandemic has caused to direct selling, the channel will remain the most popular for skin care in 2020 and beyond. As restrictions continue in the beginning of the forecast period, direct selling players will adapt their companies to continue reaching consumers.
Ongoing financial concerns will boost the demand for mass skin care products over the forecast period. As a result, new product developments within the mass segment can be expected in the years to come.
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Understand the latest market trends and future growth opportunities for the Skin Care industry in Bolivia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This report originates from Passport, our Skin Care research and analysis database.
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