The beauty market is set to see significant value decline in 2020 largely due to limited retail sales but also a shift in beauty priorities.
The lockdown period and ongoing social distancing measures has seen categories like colour cosmetics, fragrances and hair removal decline in priority.
Whilst sectors that promote wellbeing and self-care, such as skincare, have seen growth this won’t be enough to offset losses in other sectors.
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Written by Roshida Khanom, a leading analyst in the beauty and personal care sector, her extensive knowledge delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
The Covid-19 outbreak will drive significant loss in value for the beauty market in 2020 as the lockdown period has not only limited retail sales, but has also affected usage habits.
Whilst some categories such as skincare will see growth, this won’t be enough to offset losses in other sectors. Indeed categories like colour cosmetics and fragrances will take longer to recover, as the recession will mean that price sensitivity will fuel the popularity of masstige brands and cause a shift in purchase behaviours.
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