"Fragrances in Costa Rica" now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Wed Jul 16 2014

The on-going economic situation (one of the lowest consumer confidence indexes since the economic crisis of 2008-2009) further boosted the parallel market within fragrances, with a significant number of products being introduced from the US and from the Tax and Duty Free shops at the border with Panama. This situation forced manufacturers to opt for alternative strategies to boost non-essential and self-indulgence products (such as fragrances) within the popular concept of accessible luxury. This was used by certain premium players such as Elizabeth Arden (Curve) and Saint Honore Costa Rica (Jesus del Pozo Halloween) while other players continued boosting their classic ranges, launching line extensions. However, owners of certain mass brands continued to keep their leading positions within the retail channel and the entrance point through premium beauty and personal care retailers, while direct selling continued to consolidate its position, trying to follow the main world trends (floral, fresh, sport) innovative packaging, and offering good value for money ranges and other benefits (credit, innovation, value-added, convenience).

Full Report Details at
- http://www.fastmr.com/prod/851048_fragrances_in_costa_rica.aspx?afid=302

Competitive Landscape

Avon de Costa Rica SA led fragrances in 2013 with a 19% current value share. This was due to its successful global brand, which benefits from direct selling logistics (accessible unit prices, payment facilities, convenience). Technofarma SA ranked second with an 11% value share, mainly due to its mass top-of-mind brands Acero and adidas, which became popular among middle and lower income consumers, as they are widely available at most modern grocery retailers.

Industry Prospects

Forecast trends are expected to keep moving towards further levels of dynamism with an increasing number of in/out introductions, with distributors benefiting from fashion trends, runways, celebrities while continuing to apply different strategies, according to their innovation capacity and global marketing intelligence. Within mass brands, point of sale promotion, special gifts (sets and kits) and catalogue advertising will remain key competitive factors over the forecast period. Product development could keep moving towards citric, fresh and flower scents and segmented alternatives (sport, young, extreme, modern, gentleman, day, nuit, classique) while the owners of top-of-mind brands, such as Lacoste and Ralph Lauren (which were focused on specific niches), will make strong efforts to position them within the promising women's segment.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Fragrances industry in Costa Rica with research from Euromonitor's team of in-country analysts.

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