Posted: March 6, 2014
Some trends highlighted in the e-book include:
- BB creams, which have seen increased popularity in countries such as Brazil and Mexico as multifunctional face cream debuted in the market. In Brazil, these creams can be more expensive but are still performing well because consumers perceive them as multifunctional and find it cheaper to buy one slightly expensive product versus multiple items separately. In 2012, L’Oréal’s Garnier brand launched the first BB cream in Mexico, and since then, several premium and mass brands have also launched BB creams, contributing to a wider product offering within the country.
- Nail products are still very popular in markets such as Argentina and the Dominican Republic. In Argentina, nail color has overtaken lipstick as the guilty indulgence for women, and nail products are the best-performing category for beauty and personal care in the country. Despite a decline in beauty and personal care sales in the Dominican Republic, nail products are the big winner with growth in both volume and value, with innovation and color ranges strengthening the trend.
- Skin care in Chile is seeing new innovation through product development and technological advances. New anti-aging products are continually appearing on the market, targeted at both female and male consumers. Meanwhile, Canada’s growing immigrant population has a strong preference for products with skin-whitening properties and therefore is not satisfied with what Canadian retail has to offer. This is creating opportunities for imported brands and ethnic retailers to drive category growth. Within premium skin care, Costa Rican consumers use cleansers, toners and creams as part of their regular facial care process, which ranks them among the top three countries in terms of per capita consumption of these products in Latin America.
- And direct selling in Bolivia is relying on traditional advertising strategies such as TV commercials, print media and billboards to promote their products to consumers. This new shift proved successful though, as many large companies continue to grow in the market. In Ecuador, direct selling is growing the fastest in actual terms of all channels in 2013 and it is the largest distribution channel among beauty and personal care products. Direct selling will bring products to a wider range of socioeconomic classes over the next five years and will push consumers to try specialized products.