For the past year, the whole world has been affected by the Covid-19 crisis. What has been the impact of the pandemic on the cosmetics industry? How has it influenced consumers’ purchasing behavior and beauty companies’ strategies? Quentin Duriez, commercial director of Altios, answered these questions during the International Meetings organized by Cosmed on March 28, 2021.
Quentin Duriez focused his presentation on three major areas: North America, China and the Middle East.
Main impacts
The pandemic has had three major effects common to all countries:
• A sharp drop in store sales volumes in the first half of 2020 (due to their closure)
• A strong acceleration of digitalization
• A delay in the entire value chain (both in the delivery of raw materials and in the delivery of finished products for export)
Situations prior to Covid-19
Some trends were already in place and the health crisis helped democratize them. Again, these are common to North America, China and the Middle East.
They include:
• The e-commerce revolution
• The shift to digital communication (notably the use of influencers on social networks)
• The increase in more eco-responsible and healthier skincare products
• The adaptation of product offers according to markets (people do not consume the same way in China as in Europe, for example)
• The ever-increasing competition between the various players in the industry
Common trends
Several trends have developed in the beauty world.
Nichification
Cosmetics are becoming segmented and inclusive. We are seeing the emergence of more and more precise and fine-tuned categories …
