Prediction of changes in the cosmetic market after COVID-19
Prediction of changes in the cosmetic market after COVID-19
  • 한정선 기자 (향장학 박사) (fk0824@k-health.com)
  • 승인 2020.07.02 15:31
  • 댓글 0
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It would not be an exaggeration to claim that 2020 can be divided into before and after COVID-19.

COVID-19, an incident no one could have predicted, has completely changed our lifestyle and attitude.

The coronavirus has now shaken the entire cosmetic consumption pattern and consumer culture, which, for instance, can be seen in the altered makeup style of individuals.

 

CARD 1. The gradual expansion of the focus on online consumption after COVID-19

In the current situation in which COVID-19 has constrained social activities, the number of visitors to offline shops has significantly declined and in contrast, the amount of online purchases has increased.

According to NPD, an American market research company, the online sale of US beauty products has increased by an estimate of 24% for 3 months since January 2020.

The digital channel of cosmetic companies will be further strengthened in the future.

 

CARD 2. Do it yourself beauty care … The rise of DIY cosmetics consumption

Nielsen, a market research firm, has revealed that, as of April 2020, the sale of hair dye and hair cutting products has risen by 23% and 166% respectively since last year.

Furthermore, according to CBS News, the sale of hair coloring products was identified to have increased tenfold by mid-April since mid-March.

Additionally, the UK has displayed a 2 digit rise of online sales for manicures every week, signaling the inclination of consumers to carry out the beauty care they received at offline shops by themselves at home.

In the near future, the expansion of diverse DIY (Do-it-Yourself) cosmetics and beauty product consumption is expected to occur.

 

CARD 3. Alibaba, a 150% increase in sales of eye cosmetics in one month

As wearing a mask has become a necessity due to COVID-19, people have become comparatively freer from makeup.

As a result, although the sale of makeup products has declined, due to the masks making the eyes more noticeable, the market for eye makeup products has expanded instead.

China’s Alibaba has actually experienced a 150% increase in sales of eye makeup products in one month since February 18, 2020.

 

CARD 4. US sanitary ware and body cleaning products market: The rapid growth in the beauty sector

The firmer establishment of the importance of personal hygiene due to the coronavirus has led to the purchase of body cleaning products such as soap, body wash, shampoo, and facial cleansers.

According to Stackline, an American evaluation company in the category of electronic commerce, the sale of soap and body wash products has increased by 194% in March 2020, displaying the most rapid growth in the beauty sector.

 

CARD 5. Consumption growth of homecare device products

due to the expansion of non-face-to-face (untact) interactions

As the “untact (un+contact: non-face-to-face)” consumption trend has expanded following the prolongation of COVID-19, big changes in beauty care methods that depended on offline interactions are predicted to occur.

The number of consumers who lessen their visits to hospitals, skincare clinics, and beauty salons to receive continuous treatments and cosmetic surgeries and instead utilize beauty devices at home will increase.

In the future, home care products will expand into becoming more diverse and convenient beauty devices.

 

CARD 6. Safe and healthy cosmetics are also in the limelight

Since the COVID-19 has raised the level of personal awareness of infection prevention, the demand for “cosmetics safe and healthy for the skin” is also expected to increase.

In regards to the process of selecting products, as there will be more consumers who carefully check how safe the product’s ingredients are and whether the container’s structure makes it difficult for infections to occur during the usage of the product, the purpose of cosmetics, which was to merely express beauty before COVID-19, will now expand to encompass the area of health.


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