It seems that the new coronavirus epidemic COVID-19 changed the global beauty industry worth US $ 500 billion overnight.
This change is first reflected in sales. According to NPD statistics from the US market research agency, the beauty market in the US between March 23 and March 28 dropped 58% from the same period last year. According to a survey by investment bank Jefferies, the epidemic has dragged down global makeup sales, and about 90% of women are reluctant to wear makeup when working at home.
Secondly, the suspension of stores and home isolation policies have led to strong growth in online e-commerce business. According to the financial report of French beauty giant L’ Oreal, in the first quarter of this year, L’ Oreal ’s global cosmetics market sales fell by about 8% year-on-year, while e-commerce channel sales increased 52.6% year-on-year. )
Once again, beauty brands began to make full use of and rely on social media such as Instagram, Facebook, WeChat, and live broadcast platforms to interact directly with fans.
For example, Revlon (Revlon) recently told fans on Instagram, "You can use no makeup at home, but makeup can help you. Even if your one is not around, you can also use a pair of beautiful eyelashes." Before the outbreak, Relvon was mainly promoted through TV commercials.
Kiehl ’s, a skin care brand under the L’ Oréal Group, promoted its hand cream on Facebook and told people “should pay attention to dry hands while washing hands frequently”.
The parent company of the hairdressing brand Schwarzkopf and the German Henkel Group said on Instagram: "Home isolation is your contribution. Schwarzkopf will help you live more comfortably at home."
Finally, there is a change in the best-selling product categories: sales of lipsticks have fallen, while sales of lip balm, eye beauty products, and nail supplies have soared.
Consumers must wear masks when they go out, and lipstick has become one of the "most unnecessary" products. Jean-Paul Agon, CEO of L’ Oréal Group, told analysts that “lipstick demand is lagging”. Not long ago, L’ Oreal's beauty brand Lancome Paris (Lancome Paris) and makeup artist Lisa Eldridge jointly organized an online beauty teaching live broadcast, eye concealer products and lip balm became the main focus of the introduction.
Agathe Guerrier, chief strategy officer of advertising company TBWA, also said, "Because for home dwellers, what they need most is to please themselves and make themselves comfortable at home; for those who go out wearing masks, there is no need to care about the lipstick number. .When you wear a mask, you only care about the upper part of the face. "
In addition, according to a previous NPD survey, online sales of nail products in the UK showed a nearly double-digit growth in the first few weeks of the epidemic. The sales from the week beginning on March 16 increased by 12%, and nail art became an epidemic. One of the ways to "decompress" during the period.
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