Euromonitor International, a market research company, has published today a new report which identifies the top five beauty trends in 14 countries in North and South America.
According to it, direct sales represent more than a quarter of all sales in Beauty and Personal Care in Latin America, which shows to be the highest regional representation in Beauty and Personal Care in the world. For specific products, Massive Cosmetics represent over 90% of sales in all countries of Latin America and Premium Cosmetic represent 35% of sales in the United States and Canada.
“The American countries remained being a dynamic hemisphere for the products of Beauty and Personal Care in 2012, with the highest growth potential for 2013,” says the manager of Market Research for Latin America, Sean Kreidler. “Latin America is very active in expanding the information with the consumers of base through direct sales and expansion of modern retail stores. In North America, the United States and Canada have topped in relation to product innovation and in relation to customers’ buying experiences. “
The direct sale sellers continue to gain ground in Argentina and lead the market in Bolivia. Moreover, Brazil is viewed as the country with more tendency to the retail store, with the expansion of store sellers specialized. Many other Latin American countries are experiencing a great growth in which retail pharmacies and hypermarkets seek to reach consumers, where only the direct sale sellers before ventured .
The middle-income consumers lead growth in beauty and personal care throughout Latin America, most notably in Brazil and Peru. Solid economies are opening an even bigger space for the middle class in much of the region, whose disposable income on expansion helps to fuel demand for Beauty and Personal Care. Moreover, Argentina and Venezuela continue to combat rising inflation wearing the purchasing power of consumers.
The male personal care continues to grow in Bolivia, Brazil, Canada, Chile, Costa Rica, Peru and in the United States. In Colombia, in the Dominican Republic and in Ecuador, there is a future potential in male products , which have increased their power of decision in relation to the consumption of personal care products.
The premium products grow in Chile, Costa Rica and Mexico and still are a priority for many consumers in Venezuela, despite the difficult economic conditions that the country is going through. In Canada, premium brands are retaking the growth.
Products innovation is growing rapidly in Bolivia and Mexico. The United States and Canada are focusing on developing advanced technology for skin. The demand for products that contain natural ingredients present growth opportunities in Colombia, Costa Rica and the Dominican Republic.