CHICAGO, ILLINOIS -- (Marketwire) -- 02/19/13 -- Market research company Euromonitor International released today a new report identifying the top five beauty trends in 14 different countries throughout North and South America.
Direct selling represents over a quarter of all beauty and personal care sales, which is the highest regional share in the world. As for specific beauty products, mass cosmetics, products at a lower price point, represent over 90% of sales in every country in Latin America, whereas premium cosmetics account for 35% of sales in Canada and the United States.
"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."
Some trends highlighted in the E-Book:
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 Peru. 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, Peru 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 Mexico 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 Mexico. 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.
Please see: http://mkto.euromonitor.com/Five-Beauty-Trends-North-South-America.html to download the E-book.
About Euromonitor International
Euromonitor International is the world's leading provider for global business intelligence and strategic market analysis. We have 40 years of experience publishing international market reports, business reference books and online databases on consumer markets.
We deliver market research solutions to support strategic planning for today's increasingly international business environment. Our research offers in-depth market analysis on consumer goods and services industries worldwide, as well as economic, demographic and socio-economic data and insight on countries and consumers.
Euromonitor International is headquartered in London, with regional offices in Chicago, Singapore, Shanghai, Vilnius, Santiago, Dubai, Cape Town, Tokyo, Sydney and Bangalore, and has a network of over 800 analysts worldwide.
(312) 922-1115 Ext. 8349
Most Popular Stories
- Chobani Counters Competition With Expanded Lineup
- What to Expect From an Amazon Smartphone
- Clinton Sought GOP Support for Health Plan
- Auto Parts Plant Opening in Pa., Jobs on Tap
- Earnings Season Starts Rough for Health Insurers
- Saucedo Mercer Running on Empty in Arizona
- Spring Salmon Return to San Joaquin
- Venture Investments in U.S. Highest Since 2001
- IPO Market Shows Signs of Settling Down to Earth
- 'Beige Book' Federal Reserve Survey, April 2014: Full Text