Cosmetics among top luxury segments for Brazil consumers
The 'World Luxury Index' report ranked over 400 companies within the fashion, beauty, jewelry, car, watch and hospitality segments, of which beauty achieved 18 percent of the market share with the likes of MAC cosmetics coming in 3rd place, Chanel 8th and Dior at 19th.
"MAC is an undeniable leader in Brazil gathering 66 percent of makeup market share. It benefits it's first mover advantage, with a presence since 2002 and 25 stores in 2012."
Perfume and make-up leading the way
Within the beauty segment's market share, perfumes and make-up are reported to be driving the sector, representing over 90 percent of consumer interest.
"A make up revolution happened in Brazil in 2012. I believe that soon, make up will become a commodity as common as a toothbrush," says Chloé Renard, Brand Manager, Benefit Cosmetics Brazil."
Brazilian consumers rank top 10 in foreign spending
According to DLG analysts, the global luxury Brazilian market was estimated at $11,94 billion in 2012 and as brand interest for luxury increased by 24 percent in 2012, 80 percent of luxury products acquired by Brazilians were found to be purchased abroad.
"Brazilians are sophisticated, educated and keen to follow trends, with a desire of immediate consumption of the best, and they have become a constant traveler, being the main customer in several luxury markets worldwide.”
America is the top destination for Brazilian travelers (71 percent of travel location searches), who rank first in per capita spending amongst the top 10 groups of foreign visitors to the US.
"Consumer interest for beauty brands grew by 49 percent in 2012. Per capita spending on beauty and personal care products is around $260, which is similar to the one in the USA."
