Super Premium Beauty and Personal Care in the Philippines

PROSPECTS

Discounted mall prices slow value sales of super premium fragrances

Shopping mall prices of super premium fragrances were more heavily discounted in 2018 due to the growing availability of alternative retail channels for local consumers. Before the boom in online retailing, super premium fragrances could already be found in the numerous dollar stores spread across the country, especially in key cities.

High-quality skin care appeals to image-conscious consumers

The ability of affluent consumers to purchase very expensive products is highly visible in terms of skin care. Since skin care is widely regarded as essential, most consumers invest time, effort and money in skin care regimes, which take in diet, exercise and specialised products.

Fast-developing internet retailing expands distribution reach

Local consumers are showing increasing trust in internet retailers like Lazada, Zalora, Sephora and BeautyMNL. As a result, super premium branded players are looking to create partnerships with online third party retailers.

COMPETITIVE LANDSCAPE

Super premium beauty and personal care remains highly fragmented

International companies continue to dominate super premium beauty and personal care in the Philippines. However, the competitive landscape remains highly fragmented as numerous brands, popular and niche, are accessible to the local consumer base.

Marketing and limited collections point the way for super premium fragrances

Limited collections of super premium fragrances can increase retail value sales. However, since growth opportunities for super premium fragrances also lie in a more sophisticated know-how among Filipino consumers of intrinsic layering, marketing and promotions can enhance knowledge and spur value sales growth.

Competition for new consumers and brand loyalty

More super premium brands are set to join in the trend for partnerships and cooperation with online third party retailers to gain a competitive edge and extend their reach in the country. It is likely that players will offer promotions to stimulate brand awareness and loyalty.

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