While the Beauty and Cosmetics industry may be doing better than other consumer goods categories. 2020 will still be the worst year on record for the industry.
The pandemic has changed consumer need for beauty and cosmetic products. No longer are individuals wearing makeup all-day every day. A quick bit of lippy before a Zoom call has been much more common in 2020.
A report by Kinsey & Company has found the impact of the pandemic on this industry will not be 100% short term. A few long-term changes will alter the Beauty and Cosmetics industry in fundamental ways.
Digital will continue to rise
Direct to consumer e-commerce are becoming more important. Global consumers online engagement and spending is set to increase. To attract these new online customers, Beauty and Cosmetics businesses will need to make sure their digital channels are prioritised to catch them.
Innovation has accelerated
The pandemic showed supply-chains were not robust enough to cope with demand. The need for delivery speed has become greater and greater. To achieve a quicker delivery speed, there may be an increased need for contract manufacturers. There may be potential for closer collaboration between brands and retailers.
Companies will need to find new soutces of capital
Covid-19 has caused damage to many brand, retailers, and suppliers balance sheets; they will need to source capital in different ways.
The need for wellbeing has become increasing ingrained into everyone’s day to day lives; with good health being highly sought after. The definition of ‘beauty’ has consequently been altered from the need for glamour on a night out, to feeling good within yourself within the home.
Has your business or job in the beauty and cosmetics industry been effected by the pandemic?
We’d love to see how we could help; be it with a talent map or to talk through our current vacancies.
You guessed it. This site uses cookies.
We use non-personal cookies for analytics, and also some social media cookies to allow us to personalise ads. There are also one or two to take care of security. If you click 'Accept' this will allow us to use Analytics and Marketing cookies. You have full control over which cookies may be set by clicking 'Settings'.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
 
Required 'Candidate' login to applying this job. Click here to logoutAnd try again