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How is the beauty market changing in the Americas? What trends are happening now, impacting the future of your business?
This e-book helps you understand trends shaping the beauty and personal care market in North and South America, providing you the insight necessary to make strategic business decisions.
“The Americas continued to be a dynamic hemisphere for Beauty and Personal Care products in 2012 with more potential for growth in 2013,” says Latin American Research Manager, Sean Kreidler. “Latin America is very active in expanding awareness with its consumer base by way of direct selling and expansion with modern store-based retailers. In North America, Canada and the USA lead product innovation and customer shopping experiences.”
Direct sellers continue to expand in Argentina and lead the market in Bolivia. Brazil, on the other hand, is seeing a push toward store-based retailing, with the expansion of beauty specialist retailers. Several other Latin American countries are experiencing strong retail growth as pharmacies and hypermarkets are now reaching consumers where only direct sellers ventured before.
Middle income consumers drive beauty and personal care growth throughout Latin America, most notably in Brazil and Perú. Sound economies are giving rise to a growing middle class in most of the region, whose expanding disposable incomes help fuel Beauty and Personal Care demand. On the other hand, Argentina and Venezuela are battling surging inflation that has eroded consumers’ purchasing power.
Men’s grooming continues to shine in Bolivia, Brazil, Canada, Chile, Costa Rica, Perú and the USA; however, men’s grooming might struggle in Colombia, the Dominican Republic and Ecuador where future potential lies in men increasingly making their own purchasing decisions.
Premium products keep growing in Chile, Costa Rica and México and remain a priority for many consumers in Venezuela, despite poor economic conditions. In Canada, premium brands are recovering to drive growth.
Product innovation is growing rapidly in Bolivia and México. Canada and the USA are seeing advanced skin care technology development, and the demand for products containing natural ingredients present growth opportunities in Colombia, Costa Rica and the Dominican Republic.