Will beauty bounce back? In the midst of the COVID-19 lockdown, many people are not spending as much time or money on some of the daily routines like shaving, hair styling, or elaborate makeup.
Many beauty purchases revolve around going out and socializing, which the current crisis has curtailed. Forecasting for the beauty industry in the upcoming months may prove challenging, as so much remains up in the air.
Video Spotlight: Huda Kattan: Coronavirus has fundamentally changed the beauty and blogging businesses (Apr 24, 2020, Yahoo Finance)
This post is based on the CNN article, Our grooming habits are changing, by Fiona Sinclair Scott, May 6, 2020, and the YouTube video in the Spotlight. Image source: Plush Studios/Blend Images LLC
1. What changes in demand have the beauty industry experienced in recent months?
Guidance: Sales of some beauty products are down, including color cosmetics, fragrance, and lipstick, as women spend more time at home, and public mask-wearing becomes commonplace. At the same time, sales of eye makeup on retail sites is up, with Alibaba reporting 150% increase in mid-February. Since the eyes are the most visible facial feature Continue reading