Exporting is a good way to boost your sales. Business France’s Team France Export has set itself the goal of helping French manufacturers to establish their business in other countries, including those in the beauty industry. This is why the organization has published technical sheets for each zone that list all the important economic and social data. Focus on Colombia.
Colombia has an estimated population of 50.4 million people. The GDP is 6423 dollars per capita. In terms of skincare products, each Colombian spends an average of 48 dollars per year.
Due to the coronavirus, the Colombian cosmetic market has registered a 6.3% decline ($9.4 billion in 2020 versus $10.03 billion in 2019).
Market characteristics
“Local production and supply is significant. Colombia is the third country in Latin America in terms of skincare exports (after Brazil and Mexico),” explains Business France. “The most manufactured cosmetics are soaps, makeup, hair care and nail polish. There are also several multinationals that produce locally both for Colombia and the rest of Latin America.”
About 70% of the companies in the sector are Colombian (22% market share) and 30% are foreign (78% market share).
Positioning of the French offer
Although the local offer is well developed, foreign products are popular with consumers. Often, they are synonymous with quality.
Generally speaking, the French brands present on the Colombian territory (L’Occitane en Provence, L’Oréal, Nuxe, Yves Rocher or Pierre Fabre) have a premium and luxurious image.
“The French offer is also well established in the dermocosmetic segment,” adds Business France.
Opportunities
Business France has identified certain …
