Prices and brands as deal makers
However, not every sector is equally profitable. Out of its total value, the segments of personal hygiene, fragrances, and hair care made up for approximately 70 percent of the Colombian cosmetics and personal care market that year, while body and facial care made up less than 20 percent. Despite the differences in market share, there are a couple of things that all segments have in common.According to a 2020 survey, no matter the sector, for Colombian customers, prices and brands are key when it comes to purchasing these items. Differences in consumer behavior arise more among genders, than between sectors. In addition to price and brand, women focus on individual preferences when shopping for personal care products, while men pay attention to ingredients. And that is not the only aspect in which women and men differ. When it comes to cosmetics, the same study estimated that Colombian women spend around 64 percent more than their male counterparts every year. Furthermore, women tend to buy luxury brands more frequently, and seem to make more environmentally aware purchases.
