While closing stores because COVID-19 led to a decrease in sales of cosmetics, some segments of the beauty market, such as paints and tools for nail care began to develop rapidly, as consumers spend more time at home. In addition, e-Commerce now captures 90% of industry sales.
Company and market analysis, NPD has collected data on the sales of cosmetics in the United States, which showed that although total sales have declined by 58%, the dynamics of sales in certain categories, on the contrary, increased.
Sales of cosmetics began to decline as a result of the temporary closure of stores, a decrease of 58% in the week ending 28 March 2020, compared to the same period last year. However, such product sales, in particular, body oils, means for nail care and colors hair, rose, and some of them dozens of times. In addition, it is not surprising that the best most people’s homes also led to the growth of online sales. So, online sales usually account for about 20% of all sales of premium products in the beauty industry; however, over the last week online sales grew by 47% and amounted to almost 90% of the total sales of the industry.
Without the usual shopping platform digital Commerce represents almost the entire volume of the cosmetic industry today. Stay at home also provides a unique opportunity to experiment with different cosmetics with minimal risk. In other words, if a product does not give positive results or have adverse reactions on the skin – it just never see.
Short-term and long-term consequences of the pandemic for the beauty industry is significant. In the short term the sales will suffer, but future growth prospects are strong. Pure beauty, which is already an important trend to observe, will continue to increase as consumers will re-form the concept of what it means to them security. Beauty gives confidence, hope, a temporary salvation and, contrary to today’s more formal definition, beauty is necessary. In the first place will make most people coming out of quarantine? It is likely that it will be a visit to the hairdresser, nail salon, which will be crowded.