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Wednesday, April 27, 2022Market

The impact of Covid-19 on the beauty market

L'impact du Covid-19 sur le marché de la beauté

The health crisis started in 2020. The cosmetics sector, initially put on hold, has adapted to the situation and has been able to fight back. The forecasting firm Kantar has just published its latest report in which it shows how the beauty industry has negotiated the recovery and what trends have emerged.

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To carry out this study, Kantar analyzed trends in the consumption of beauty products and the purchasing habits of over 300,000 individuals and households across 20 countries.

According to Kantar, the cosmetics industry was the most prosperous consumer goods sector before the health crisis. “But Covid has changed that. And one of the most successful sectors has suddenly found itself in difficulty as people go out less often and use fewer products,” comments the firm. ”Fortunately, the recovery is back. Despite the decline in the global market in 2020, 2021 saw a rebound.”*

Less, but better

Cosmetics value sales fell almost everywhere between 2019 and 2021.
However, Kantar says this trend toward minimalism was already identified since 2019. The health crisis has only accelerated the phenomenon.
In general, consumers are looking to adopt a more natural look (66% of French women, 71% of British women and 90% of Chinese women).

The strong decline in make-up consumption can be attributed to the wearing of masks during the pandemic. The trend is now towards a more moderate use of beauty products.
“As women spend less time preparing, brands need to think about how they can ‘premiumize’ their offering and provide high-end skincare,” …

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