Monday, September 7, 2020Cosmetics news

Covid-19 and the cosmetic industry: Veeva analysis

Covid-19 et industrie cosmétique : l'analyse de Veeva

Economic and social impacts, change of habits… all sectors are upset by the Covid-19 crisis. Veeva, a specialist in innovative solutions for the cosmetics industry, provides its analysis of this context, from consumer trends to disruptions in supply chains, including the explosion in digital demand and its vision of the marketing and industrial strategies to be adopted to meet it.

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This crisis has emphasized the need for “clean” products at the strictly sanitary level, i.e. without bacteria or viruses, and despite the use of preservatives, incompatible with the “green” ranges. In addition, the pandemic has impacted the world of well-being and beauty at different levels.
• Firstly, distribution has been brutally disrupted. Luxury brands for whom selective distribution and travel retail represent the main channels for stock sales.
• Production was then undermined by the lack of supply of raw materials as well as the variations in consumption imposed by the entry into confinement. The lack of freedom of movement and action forced manufacturers to temporarily stop operating their plants.
• Certain brands managed to mobilize to participate in the collective effort in an emergency, particularly by producing masks (for the luxury goods industry) and hydroalcoholic gel (for the cosmetics industry), raising the question of risks related to quality or regulatory aspects for these improvised productions.
• The product mix itself was turned upside down during this period: the wearing of masks led to a drop in the use of lipstick (44% of women say they no longer wear lipstick according to a recent study) in favor of eye makeup, …

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