EconomyFinancialThis company seeks to take advantage of the skincare...

This company seeks to take advantage of the skincare boom with gadgets

The pandemic brought two new trends: a greater use of digital platforms and social networks, and a greater concern for health and well-being . With a greater number of people joining to have healthy skin, companies have put a greater focus on this market, which in Mexico is barely developing.

Foreo is a Swedish company that has joined this trend, but adds technology to its products to create gadgets for personal care . The first to arrive in Mexico in 2019 was a facial cleansing brush that pulsates from a technology patented by the company, but now they have their sights set on devices that exercise the muscles of the neck and face, where the market trends.

Jorge Treviño, Foreo’s commercial director for Mexico and Latin America, explains in an interview with Expansión that although there is concern about caring for the appearance of the skin, it is from health that they have found a market niche, which in Mexico is served in some cases in a spa or specialized clinics.

The manager acknowledges that, upon arrival in Mexico, there was a concern about facial care, but it was during the pandemic and the rise of social networks where facial care routines , healthy eating and even exercise routines were displayed, when they noticed a greater interest in its products, which had an increase in sales of up to 300%.

During the pandemic, skincare increased . With TikTok everything began to go viral, people began to connect virtually and there was a boom in content, there was a lot, and without realizing it. we were bombarded with this information [about being healthy],” she says.

The company also sells facial masks, which it recommends to use in conjunction with other of its devices, which enhance the ingredients of the mask through cryotherapy and LED lights.

“We have been in Mexico for a short time, but due to the same situation that has been experienced in these years, we have had to discover and learn from everything. According to the latest studies that are from 2020 to 2021 on how the personal care market is divided in Mexico, in the first place there is the facial care part and we are attacking this part, a market that already exceeds 40,000 million pesos , ”he adds. the commercial director of Foreo.

The beauty and personal care market in Mexico is one of the fastest growing. According to Statista, it has a boost due to the generational change with the entry of younger consumers, reinforced by social networks . “Trends from around the world are spreading and changing the daily routine of beauty and care,” says the consultant in the analysis of the Mexican market.

In the study, Statista projects that revenue in the beauty and personal care market will reach $7.93 billion in 2022 , projecting the market to grow at a rate of 4.08% by 2026.

technology development

Jorge Treviño explains that Foreo has two innovation centers, one in Shanghai and the other in Switzerland, where they analyze trends in the beauty and personal care market through data , and also explore technology to develop devices. The manager did not detail the amount allocated to these processes.

At the moment, the firm is waiting for more products to reach the market as one of the drivers of growth in sales, which are made by 60% in physical stores and the remaining 40% through electronic commerce .

“In Mexico and Latin America we had to develop the category of devices, which did not exist outright and that is why these markets were attractive for the brand,” says Treviño. “Now, in the most relevant markets for skincare in the region, Mexico, Chile and Colombia come first and we will be there,” he concluded.