Analyst Insight by Marcela Viana, Research Analyst, Euromonitor International
During September 9th and 10th, the first edition of In Cosmetics in Brazil was held in São Paulo. In Cosmetics is an international fair dedicated exclusively to the sector of raw material and ingredients for beauty and personal care products.
Brazil has the potential to grow in Premium Beauty and Personal Care
During my presentation about what we can expect from the premium market of beauty and personal care, I pointed out some factors that show the existing growth potential for the market in Brazil. The increase in credit to consumers, primarily through increased issuance of credit cards, has driven the premium market, since now many consumers can access and pay in installments to purchase premium beauty and personal care products, which were previously inaccessible. Another factor that contributes to the expansion of consumption of premium beauty products and personal care is linked to the fact that many new brands have recently entered the country, offering a wider range of products to consumers. Brands like Urban Decay, Benefit, Bare Minerals, among others, are now available to any consumer in Brazil, either through internet retailing or brick and mortar stores.