Time passes, trends change… and so do consumers! As the world gets used to living with Covid, many people have changed their habits. Foresight firm Mintel studied the consequences of the coronavirus crisis on the average American citizen. This data is precious for the cosmetics industry as it allows them to better understand the evolution of their customers.
Covid-19 has had economic, health and social impacts. According to Mintel, recovery is underway in the United States.
“It will continue through 2022, with spending expected to exceed pre-pandemic estimates in the next three years,” comments Mintel.
New lifestyle habits
Covid-19 has largely democratized telecommuting. Many Americans continue to commute to work. 42% of US citizens expect their work to remain flexible.
Necessarily, these new adjustments are impacting the way Americans take care of themselves. Beauty routines are becoming simpler and certain socializing product categories are consumed less.
Relative financial stability
Although the recovery is here, nearly four in 10 Americans feel less financially stable today than they did before the pandemic. “Current financial comfort varies by age and ethnic/racial segments, showing that not all Americans have been impacted equally. Young people and Hispanics are the hardest hit,” Mintel said. “Those who have saved during the pandemic plan to use their money carefully. However, four in 10 plan to spend the extra money on indulgences.”
Focus on health and wellness
The pandemic has exacerbated the need for self-care. Americans are now much more attuned to their mental health. Talking about this topic has become more democratic. The understanding of well-being …
