Boston, MA -- (SBWIRE) -- 07/03/2014 -- Colour cosmetics in Lithuania continued to rebound strongly from the unfortunate effects of the economic crisis during 2012, with growth in the category supported by both the search for increased variety and the strong loyalty which many Lithuanians have to the category's most established brands. Lithuania's retailers aggressively promoted various types of colour cosmetics throughout 2012 and this gave a further boost to value sales of colour cosmetics. In addition, the leading players in the category engaged in much higher spending on advertising during 2012 and this marked colour cosmetics out from the majority of other beauty and personal care categories in which spending on advertising remains minimal.
L'Oreal Baltic SIA remained the undisputed leader in colour cosmetics in 2012. The company has a very strong position in all of the major retailing channels for beauty and personal care in Lithuania and its various colour cosmetics brands are universally known and well loved among the company's primary target audience. Equally importantly, the company's marketing spend on its L'Oreal and Maybelline colour cosmetics brands is unmatched by any of L'Oreal's competitors. L'Oreal is also the most creative colour cosmetics company in Lithuania in terms of marketing spend and the company does not limit itself to advertising in the traditional media, sponsoring various events in addition to the more mainstream advertising channels. Nevertheless, the seven percentage point increase recorded in L'Oreal's value share in colour cosmetics in 2012, which resulted in the company accounting for 43% of total colour cosmetics retail value sales, was mainly due to improvements in the Lithuanian economy. L'Oreal's products have always been coveted by Lithuanian women, although it was only when vast numbers of Lithuanian consumers became more confident in their financial future that they felt happy to finally allow themselves to purchase L'Oreal colour cosmetics.
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The ongoing economic growth in Lithuania bodes well for growth in colour cosmetics during the forecast period. Increasing disposable income levels are expected to result in higher spending and even more experimentation in the category. As Lithuanian consumers tend to try out cheaper colour cosmetics only when they are uncertain about their immediate financial future, improving consumer sentiment should result in a stronger focus on more expensive brand during the forecast period.
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The Colour Cosmetics in Lithuania market research report includes:
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- What is the evolution of mass colour cosmetics versus their premium counterparts?
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