The Beauty Industry In COVID- Business World

Ritu Khanna Dec 17, 2020

With a global pandemic on the high rise, the whole world has seen a rapid change in their lifestyle, behavioral routines, businesses and beauty regimes too! Affecting all sectors across the globe, brands and consumers met with a period of profound uncertainty- causing a change in consumer behavior. Pre- Pandemic, color cosmetics were in high demand, however now- eye care and eye makeup products are at the forefront of popularity.

Stay home stay safe calls for some self-care- essentials like cleansers and body washes and facial skincare are the feel-good products patrons reach out for most often.

Experts agree that wearing masks is a crucial step towards ending the pandemic, and compliance is on the rise. This behavioral shift has dramatically changed the way that shoppers are doing their makeup. With the mouth, nose, and cheeks covered by protective masks, shoppers are focusing their attention – and their wallets – on products for the eyes.

We’ve identified four areas that are evolving in the current environment:

1. Self-Care: Being homebound, people are placing utmost importance on their wellbeing, opting for and making self-care products most valuable in the current scenario.

2. Digital Acceleration: The role of e-commerce is growing, as consumers are forced to use online channels to access beauty products.

3. Resourceful Beauty: With an absence of salons, consumers are seeking alternative ways to both maintain their look, while some are taking it as the best opportunity to experiment and try their hand at new looks!

4. Communications: In a rapidly changing situation, consumers are looking to brands to demonstrate adaptability, empathy and relevancy.

With patrons leaning towards well being versus solely appearance-based products, homegrown premium brands received a window to build their new consumer base with shoppers who had previously shown little interest in clean beauty. Before the pandemic, private label beauty brands were already on the rise across retail categories. This has only increased, as more consumers have shifted the way they spend due to financial constraints, new buying journeys or preferred products being out-of-stock. There is a clear divergence of purchase power that is driving consumers to turn from middle-of-the-pack brands to private label brands that are generally cheaper and available for purchase. With this shift, retailers are better able to engage with shoppers on personalized and targeted efforts matching their buying habits and gaining their loyalty.

Many consumers also perceive that these products offer the same, if not better experiences than their previous holy grail brands of choice. In makeup and skincare specifically, 66%consumers had a better experience with a private label brand.

Education and awareness about the impact of blue light on the skin is now a known fact among many. Perenne is always striving for excellence and innovation, therefore keeping in mind how people would be spending a majority of their time on mobile and other digital devices, the brand has created a market for blue light blocking skincare. Along with developing products for digital aging prevention, Perenne has also launched a breakthrough product, acutely accelerating the brand’s sale graph- a Makeup Disinfecting Spray.

Educational marketing including genuine reviews from clients leads to a positive buying response and brand image, while trustworthy and like-able influencers contributed to sales through product reviews for those unable to physically purchase products from stores. Genuine recommendations build trust and maintain customer loyalty, satisfaction and retention.

While the need to wear makeup has decreased, along with it the demand for cosmetic products, consumers are ready to splurge on a new skincare treatment as opposed to a new makeup palette. Consumers are pampering their skin in the pandemic, taking time to stay in and restore their skin!

Four key beauty trends have emerged during the pandemic: at-home beauty tools, purple haircare products meant to preserve colour, serums and blue-light-blocking skincare.

With the pandemic showing no signs of slowing down, the trends offer a product launch blueprint for beauty brands- hoping to thrive despite the external restrictions of slow or non-existent in-store sales and a decrease in makeup purchases; another blow to the already-struggling category.

This has solidified the longevity of trending categories like skincare and self-care, giving an advantage to brands already selling products in the category, urging and making it vital for other brands to delve into space and innovate too!