Turn to perfumes and cosmetics Greek consumers during this year, leaving behind the restrictions imposed by the pandemic, the main one being the mandatory use of masks indoors and outdoors. Despite the gradual return to normality and the choice of products identified with beauty and our everyday life, other types of restrictions associated with the inflationary crisis have entered the lives of Greek consumers. So, according to the data provided Panhellenic Association of Producers and Agents of Cosmetics and Perfumes (PSVAK) Cheaper private label cosmetics have seen a rise in recent months, while many beauty categories are receiving premiums that can’t be covered by discounts and retailer promotions, according to research firm Euromonitor. In fact, polls have shown that the vast majority of Greeks are now cutting back on spending on non-essential items (clothes, shoes, cosmetics).

According to market dynamics, in 2022, turnover in the main categories of cosmetics is forecasted to grow by 3.5% in value terms compared to 2021, the increase of which is also affected by rising product prices. Sales growth is expected to be similar in 2023, when the cosmetics industry is expected to recover from the pandemic shock of previous years, surpassing sales recorded in 2019 in value. In particular, the category of cosmetics is evaluated. will be strengthened by 16.3% in 2022 compared to 2021, followed by perfumes (+7.7%). Despite double-digit growth, the cosmetics category failed to recover to 2018 levels. On the other hand, beauty products that have been boosted significantly during the lockdown, such as facial and body care, will fall (-0.9% and -1.4% respectively). With regard to premium products, PSVAK notes that this year they show more growth potential compared to widely distributed products. However, this is also because widespread products also available in supermarkets were not directly affected by the lockdown, unlike premium products sold exclusively in department stores and beauty stores (not supermarkets) which were suspended. during quarantine. pandemic. Thus, mass products show a slight increase, in contrast to premium products, which will grow by 4-6% in 2022.