One very important factor that is almost certain to play against sales of premium beauty and personal care during the forecast period is the parlous stare of Ecuador’s economy and various structural issues that make it unlikely that any meaningful resolution to the current situation will be seen for the foreseeable future. The poor state of the economy and a lack of social mobility make it unlikely that we will see increases in the size of the core target audience for premium brands, which largely comprises high-income consumers.
The forecast period is likely to see the proliferation of counterfeit brands and illicit imports have a negative impact on official retail sales of premium beauty and personal care in Ecuador. Unfortunately, smuggling is very common in Ecuador and the exchange rate difference between the US dollar, the official currency of Ecuador, and the currencies of neighbouring countries makes smuggling very attractive.
Since 2017, the free trade agreement that exists between the EU and Colombia, Ecuador and Peru has ensured low-friction imports of European cosmetics and toiletries into Ecuador and 2024 saw tariffs on EU imports into Ecuador fall to 0%. With European cosmetics brands widely seen as the benchmark in premium beauty and personal care due to their superior quality and innovative properties, it should come as no surprise that they are also among the most expensive items across the entire market.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in Ecuador with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Premium Beauty and Personal Care industry in Ecuador, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Premium Beauty and Personal Care
This is the aggregation of premium colour cosmetics, fragrances, deodorants, skin care, sun care, baby and child-specific products, bath and shower and hair care.
See All of Our DefinitionsThis report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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