In 2018, premium brands such as Shiseido, Estée Lauder, Nu Skin and Amway experienced strong value growth mainly thanks to the stronger economy, gradual increase in the average income, higher living standards and strong development of social networks. In the review period, people with a strong belief in the quality of premium brands were more willing and better able to spend money on expensive premium skin care products.
In 2018, anti-agers witnessed the fastest value and volume sales, largely due to the strong economic performance, higher living standards and many promotional events created by manufacturers to stimulate consumer interest in these products. In the review period, premium brands such as Shiseido, Estée Lauder and L'Oréal Vietnam continued to dominate the anti-ager category due to their high brand reputation.
In 2018, companies especially premium brands such as Shiseido, Ohui, Kielh and Vichy created various small workshops where customers could consult with sales representatives about their skin type, health and problems. Afterward, they would receive advice on how to take good care of their skin and be introduced to the skin care products that are most suitable for treating their skin type.
In 2018, Shiseido Vietnam held the leading position within premium beauty and personal care. Amongst beauty and personal care categories, skin care is one of the Shiseido’s biggest categories and it has been very successful due to offering so many product types with multiple added functions.
In 2018, prestige brands continued to dominate premium beauty and personal care, accounting for more than 90% of the total sales value and leaving small room for pharma brands like Avene, La Roche Posay and Vichy. It was mainly thanks to these companies’ huge efforts to expand their distribution networks to new markets by boosting online sales and investing in marketing activities.
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This industry report originates from Passport, our Beauty and Personal Care market research database.