Reduced participation in outdoor sports and strenuous exercise, coupled with the closure of sports centres and gyms due to COVID-19 social distancing measures, will contribute to lower incidences of sport injuries in 2020. In addition, the increase in the number of Singaporeans working from home will also reduce the risk of workplace injuries.
Given the homogeneity of wound care products, the category has reached a high level of maturity. Leading players are thus striving to compete for consumers’ attention and differentiate themselves from cheaper alternatives private label ranges by promoting products with multiple functionalities.
Wound care continues to be led by multinational players such as Beiersdorf, which is strongly positioned in the large sticking plasters/adhesive bandages category with its brand Hansaplast, and 3M, which offers the popular Nexcare brand. Smith & Nephew, on the other hand, is well positioned in gauze, tape and other wound care.
Demand for first aid kits will likely accelerate in the post-COVID-19 world given the rise in overall preventive health awareness and practices. As a result, consumers will be sure to stock up on first aid kits as a household staple so as to prepare for any impending health pandemics.
Wound care is seeing increasingly polarised demand in Singapore, with consumers being drawn to premium/specialist or economy products. Value sales are being stimulated by premium wound care products, which carry higher unit prices, although economy ranges continue to dampen the effect.
Private label ranges from pharmacy retailers such as Guardian and Watsons continue to gain sales share due to the relative affordability of their products compared to branded alternatives. The competitive retail price of private label ranges is helping such products to gain sales share, driven primarily by volume growth.
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