Despite ongoing inflationary pressures, sales of beauty and personal care in El Salvador in 2023 continued to grow. Products such as shampoo and toothpaste benefited from regular usage and more dynamic promotions, while pack sizes polarised between large and small as consumers sought to either make volume savings or limit their spending.
In 2023, the Salvadoran economy registered moderate GDP growth, estimated by the Central Reserve Bank (BCR) at around 2.6%.
The beauty and personal care market is in a process of democratisation in El Salvador, especially in relation to innovative facial care products, which for previous generations were aimed mostly at the higher income population. Brands designed for mass consumers tend to more regularly incorporate innovative compounds at prices perceived as accessible among middle-income Salvadorans.
The Salvadoran economy still faces challenges around the formalisation of its labour market, having one of the highest informality rates in the region. According to official reports, this was estimated at 69%, while the unemployment rate in 2023 was 7.
In El Salvador, it is relatively easy to transport goods from one location to another as the country’s roads and related infrastructure are generally good. There are, however, exceptions in some rural areas, where roads are still poor and awaiting government investment.
In 2024, the Salvadoran economy is expected to show moderate GDP growth, with the International Monetary Fund (IMF) projecting growth of around 2%, while inflationary pressures are projected to continue decelerating to levels close to 3%. In the political and social context, a period of stability is expected, with the re-election of President Bukele with a second term and a high level of citizen approval of his mandate.
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Beauty and Personal Care
This is the aggregation of baby and child-specific products, bath & shower, deodorants, hair care, colour cosmetics, men's grooming, oral hygiene, fragrances, skin care, depilatories and sun care. Black market sales and travel retail are excluded.
See All of Our DefinitionsThis report originates from Passport, our Beauty and Personal Care research and analysis database.
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