As a result of the decision to quarantine the population amid the outbreak of COVID-19, the stores which sell beauty and personal care products closed in mid-March 2020. Depending on the city and the location, some of them were reopened as restrictions were eased but those housed in shopping malls remained closed until mid-October.
Estée Lauder’s premium brand of colour cosmetics MAC continued to expand its burgeoning chain of retail outlets in Argentina throughout the review period. 2019 saw the brand open a new exclusive colour cosmetics boutique in the inland metropolis of Rosario, the capital of Santa Fe province and Argentina’s third-largest city.
At the end of the review period, sales of super premium beauty and personal care were accounted for largely by beauty specialist retailers, with department stores also generating a significant proportion of sales. Specifically, sales are confined almost exclusively to premium retailers located in prestigious retail districts and upmarket shopping centres, mainly in Buenos Aires.
It is possible that during 2021 people will travel abroad much less often, which is why consumers with high purchasing power who used to buy super premium beauty and personal care during their trips abroad may start buying these products locally, which could contribute to the Argentinian category’s growth. Volume sales growth is predicted from 2021 thanks to reopened outlets, and super premium beauty and personal care should continue to make gains throughout the forecast period, with 2023 likely to be when volume sales return to pre-pandemic levels.
Besides the assistance of sales staff, a factor supporting the performance of Argentina’s leading chained department stores and beauty specialist retailers is that these retailers tend to offer their customers the option to pay for purchases on credit. Specifically, payment schemes that spread the payment across up to six interest-free instalments represent a major incentive for consumers to purchase super premium beauty and personal care from major retailers.
At the end of the review period, beauty and personal care remained one of the fmcg industries in Argentina with the highest proportion of sales accounted for by e-commerce. However, this did not necessarily apply to super premium brands.
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Understand the latest market trends and future growth opportunities for the Super Premium Beauty and Personal Care industry in Argentina 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 Super Premium Beauty and Personal Care research and analysis database.
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