Super premium beauty and personal care saw a strong slowdown in its current value growth rate in 2020 compared with previous years. However, this was also the only personal luxury category which was able to maintain growth in this year, which was an achievement in itself.
The temporary closure of bricks-and-mortar specialist retailers in 2020 as a result of the pandemic accelerated the rise of e-commerce within super premium beauty and personal care. This was evident from the aggressive placement of products via online marketplaces such as Shopee and Lazada, as well as frequent promotions from retailers on their e-commerce sites, resulting in value share gain for the distribution channel and double-digit current value growth in 2020.
Super premium beauty and personal care is a fairly fragmented competitive landscape in Singapore, with only the leading player L'Oréal (Lancôme, Kiehl's, Yves Saint Laurent, Shu Uemura, etc.) holding a double-digit value share in 2020.
Over the forecast period, super premium beauty and personal care is expected to continue to see current value growth, as after the pandemic consumers’ sentiment will improve, and they will look for affordable luxury items, including skin care products and colour cosmetics. Super premium skin care is expected to see the best performance, as clear, moisturised skin is seen as a reflection of good health.
Advances in technology are expected in order to improve consumers’ experiences with online channels, which will contribute to growth for e-commerce in the forecast period, although from a low base. In addition, more players will also look to implement technology into their product ranges.
Despite the easing of restrictions and the rising vaccination rate in Singapore, safe distancing and hygiene practices will remain in place within store-based retailers. This is a particularly relevant factor for beauty specialist retailers, where stringent precautions such as the removal of product testers and the enforcement of mask-wearing within stores are still observed.
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Understand the latest market trends and future growth opportunities for the Super Premium Beauty and Personal Care industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is an aggregation of super premium colour cosmetics, super premium fragrances, super premium skin care and other super premium beauty and personal care.See All of Our Definitions
This report originates from Passport, our Super Premium Beauty and Personal Care research and analysis database.
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