What to Prepare for Post-pandemic in Cosmetic Industry

How pandemic has shaped the beauty industry

Customers are changing habits

Women use fewer cosmetics than they used to. After being stuck at home with remote work for about 2 years and going out with faces covered by masks, more and more people realize that it’s not necessary to be fully made-up and become confident about embracing a more natural look. Lockdown and remote work leads to fewer make-up purchases in western countries, but the growing middle class in developing countries will fill a part of the vacancy.

Online sales growing but store remains critical

In-store shopping accounts for up to 85 percent of beauty product purchases before COVID-19. 30 percent of the beauty-industry market was shut down, and a big part of these stores will never open again. More sales are shifting to online platforms. Unlike retail store shelves, customers can not smell, touch, and try on your products from web pages or applications. How to market your product better with pictures, videos and KOLs posts challenges to all cosmetic brands.

Inflation makes less budget

Monetary policies in pandemic and Russia’s invasion of Ukraine lead to high inflation nowadays. Inflation is squeezing customers’ budgets. Typically lipstick sales shrive during harsh economic times, but this time masks and remote work causes a 40% fall in sales. People are allocating cosmetic budgets to different products like skincare and self-care products.

What to expect?

The beauty-industry market has been consistently resilient. Since the covid-19, 2022 is the first year most countries get rid of the pandemic and back to normal lives. More and more people drop their masks and those cosmetic products were covered under masks maybe slowly come back to normal needs before the pandemic.

Beauty products that are worth sourcing

There’re still variants coming wave by wave, those sub-categories like eye-cosmetic, skincare, and self-care products are worth sourcing more than other categories.

Demand for skin care products keeps strong

You can source glorious and elegant essential oil bottles, serum bottles, lotion bottles, and toner bottles here. Uzone supplies one-stop solutions for your customized cosmetic products.

Reference:

1. BBC – Women wear less make-up since the pandemic 
2. McKinsey – How COVID-19 is changing the world of beauty