In the space of a few months, the coronavirus epidemic has brought most industries, including the beauty industry, to a standstill. While the time of recovery has come, the cosmetics players must put all the chances on their side to be effective. During a webinar organized by WeCosmoprof, Irina Barbalova, Global Lead Health and Beauty, and Gabriella Beckwith, Senior Analyst Health & Beauty at Euromonitor, gave some food for thought to help beauty professionals start the recovery in the best possible way.
Before starting, the two speakers wanted to quickly set the context in which we are, at the end of the Covid-19 crisis.
“The macro-economic impact is negative. This is due to the closure of companies, the partial unemployment of employees and the confinement,” explains Irina Barbalova. “On the supply chain side, production and logistics have been disrupted. Nevertheless, it is worth noting the ability of industrialists to manufacture hydroalcoholic gel almost at the drop of a hat. At the trade level, the closure of stores and selective distribution channels has contributed to the explosion of e-commerce. In addition, brands have innovated to create links with customers.”
Like other experts, Euromonitor forecasts a dizzying drop in world GDP, and depending on the scenarios, a return to normal between 2021 and 2022.
Impacts on the beauty industry
Cosmetics is one of the ten consumer industries most affected by Covid-19.
When we go into detail, some product categories are in sharp decline compared to others. For example, make-up and fragrances were less purchased than skincare or bath care. This result is quite logical considering the confinement and circulation limitations.
“From a sales point of view, we can see that e-commerce has avoided the …
