When it comes to direct selling, the market researcher highlights Bolivia as relying on traditional advertising strategies such as TV commercials, print media and billboards to promote their products to consumers.
Euromonitor analysts say this new shift proved successful though, as many large companies continue to grow in the market.
“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,” they report.
Elsewhere, in Ecuador, the market researcher says 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.
BB creams and nail products are leading the way...
BB creams 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 multi-functional and find it cheaper to buy one slightly expensive product versus multiple items separately.
In 2012, L’Oreal’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 colour has taken over 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.
The anti-aging and skin-whitening sectors are highlighted as future big business in Canada’s skin care sector.
An increasing number of mature women and a rising immigrant population in the country is fueling demand for the demographic-relevant products, say analysts.
In a more generalized trend, the research firm notes that Canadian consumers are increasingly drawn to convenience when it comes to skin care, with both product purchase and application.
Although attempts to sell anti-aging benefits to younger women have not met with much success, a growing proportion of mature women is driving demand for anti-aging products, as Candada joins the US in the rise of the baby boomer generation.