Cosmetics are gaining ground and the mask gives way to make up

Of George Lampiris

Cosmetics seem to be gaining ground as evidenced by the fact that the assessment of the Panhellenic Association of Perfume and Cosmetics Industries and Representatives represents an increase in wholesale sales in Greece in 2022 and compared to 2021.

Regarding the main trends of this market, there is a significant growth of products related to men, as the market for men’s care products, such as products for the face or the beard, is gradually beginning to be rewarded. At the same time, the gradual reduction of mask use is a key element, which contributes to the recovery of the market for make up products.

At + 4.5% the estimated sales for the whole of 2022

For this year, PSVAK estimates that the industry’s sales will increase by 4.5% compared to 2021 for the whole year with the market showing that it is gradually beginning to return after the lifting of the restrictive measures due to the pandemic. .

So if the estimate of the Cosmetics Association is confirmed, the value of the cosmetics market will reach 579 million euros this year.

The reason why it is estimated that there will be an increase is according to Theodoros Giarmenitis, president of PSVAK, that the category of cosmetics includes not only products of selective distribution or perfumes, but also products such as hair dyes, cosmetics, cream soaps and soaps and many more everyday products, which are also affected by the advent of tourism.

The total estimated value of product sales in Greece for 2021 was 554.76 million euros according to PSVAK, an amount increased by 7% compared to 2020 where stores were closed for a long time.

Of this amount and according to data from the Panhellenic Association of Manufacturers and Agents of Perfumes and Cosmetics, 171 million correspond to hair care products, 59.5 million euros to body care products, 177.24 million euros to face care goods, 85.2 million euros in makeup and 61 million euros in perfumes.

It is noted that the market value at the retail level in 2021 reached about 1 billion according to PSVAK. The corresponding amount in 2009 at retail was 1.45 billion euros.

Retail price increases of 15-20% – Compensation for promotions

As for the increases in cosmetics, they range from about 15% -20% on average, however offers (discounts and products in the form of 1 + 1) are made in all market channels, both in wide distribution products and in the products sold from the pharmacy counter but also in the selective distribution.

A major issue for the cosmetics industry as well as for all companies is the development of the Russian invasion of Ukraine and its consequences for the world economy, with PSVAK expressing its concern about the shrinking purchasing power. of the consumers.

Where are cosmetics sold from and at what rate

The cosmetics distribution channels are the wide distribution mainly through the supermarkets, which is estimated to reflect 31% of the total sales in 2022, the selective distribution with 16%, the pharmacies with 21%, the beauty institutes with 1% , hairdressers with 9%, door to door sales with 3%, e-commerce with 15% and cosmetic boutiques representing a specific brand (standalone boutiques) with 4%.