Beauty travel retail sales grew 28 percent in Latin America in the first quarter, representing one of the strongest growth regions for prestige and luxury beauty brands, reports global investment bank Jefferies LLC. Brands have seen success in the region by introducing innovative products that match consumers’ on-the-go travel needs, such as Fatigue Fighter from Estée Lauder (part of the Three Minute beauty assortment). Brands have also seen success by increasing global distribution, which resulted in travelers converting into consumers by electing to self-purchase vs. gifting.
Q1 Latin America Prestige Beauty Sales +28%
The region represents a key market for growth for prestige and luxury beauty brands, according to global investment bank Jefferies LLC.