Skin care was growing in Latin America in 2019, driven by healthy performances in the major facial care and body care categories, particularly in Brazil, the region’s biggest market. Hand care was in decline, however, both in Brazil and Latin America as a whole. In 2020, the opposite is true, as hand care sales rise against a backdrop of dried-out hands from frequent handwashing due to Coronavirus (COVID-19), but body care and facial care decline due to the pandemic’s economic impact.
Although skin care sales were in decline in some countries in 2019, notably Argentina and Chile, strong growth in Brazil was helping drive the overall regional performance, backed up by continued increases in Mexico. With Brazil still in recession and seeing negative growth in the earlier years of the 2014-2019 period, the region as a whole was also in decline. Regional skin care sales have since been heavily influenced by the improving fortunes of the Brazilian economy.
With consumers increasingly cautious about what they put on their skin, this is making them more willing to opt for dermocosmetics, even in troubled economic times, such as those caused by the measures taken to contain COVID-19’s spread. Dermocosmetics can still be affected by weakening local currencies, though, as seen in Brazil in recent times, with premium dermocosmetic products likely to be imported, meaning a dramatic fall in the strength of the local currency can lead to their prices rising more than those of mass alternatives. Nevertheless, when they can afford to, consumers are expected to continue favouring dermocosmetics.
With the official instructions for people to thoroughly wash their hands on a regular basis or to use hand sanitiser to clean the hands to combat the spread of COVID-19, this will be driving sales of hand care products in 2020, with consumers hands dried out due to all the washing/sanitising. Hand care will therefore buck the general trend in skin care and record positive value growth in 2020, with body care and facial care both recording declines.
Generally, the pandemic is expected to have a negative effect on skin care sales in 2020, with its economic impact hitting consumers’ disposable incomes, although growth will quickly return to positive territory from 2021.
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