How has the Skin Care Industry been affected by COVID 19?
Beauty Industry of India:
The use of beauty products is no more restricted to being used on any special occasion, as the market is growing to be a part of the daily regime of today’s women’s lives. And breaking all stereotypes, this skincare industry not only limited to females but is evolved to the male grooming segment too. The skincare industry has successfully created a handsome no of employment opportunities, but with the spread of COVID-19, that complete industry comes to a halt.
Before the outbreak of the coronavirus, the skincare industry in India was blooming with numerous no of customers, high quality personal and care beauty products. Customers were pretty open to try new products that help to maintain healthy skin with an elegant look. The demand for these products was growing over the last few years to cope up with increasing desire among the customers in the country. According to speculated data, this industry is growing with a 16% hike during 2015-20. But the outbreak of the virus causes a drastic change in the esteemed graph.
How COVID-19 affecting this industry:
The almost exponential growth of the fear of corona virus causes a change in the dynamics of the skin, hair and beauty industries. According to the government rule, all the salons and spa has been shut down in this lockdown period, and nobody has a clear picture when any of them will re-open. Lots of makeup artists, hairstylists have been left without work. The fact is clear that the industry will likely leave with a billion-dollar loss to this emerging industry.
Today, India import, raw materials of the beauty product worth $ 400 million from all over the world. But the countries from Italy, France, and China have been devastated affected by this outbreak, which impacts the supply chain of the beauty industry majorly.
Due to the widespread of the virus, before lockdown, there is an increase in the appointments. Large scale productions of the hair care products that need contact with thousands of people have been shut down. That directly influence the supply chain and suppress the sale rate.
Spa & Parlor:
This industry needs close contact with the public, and in this situation, that ranked it as a high-risk place. So, all the spa, parlors across the world have decided to shut to halt the spread of this pandemic.
The global supply chain has been hit:
The cosmetic and personal care industry has faced the disruption of the supply chain from the very starting period of COVID-19 spreading. And this pandemic related supply interruption continues to show up to prevent any further spread of this virus. All the industries are taking a break and maybe that’s the right thing to do. Brands like P & G have announced 17600 products will going to be affected by this outbreak. But of course with new challenges, new opportunities come. Rapidly new industry events are growing in online mediums- these events are meant to business leaders and corporate owners of beauty and personal care industries across the world.
Trends that are reshaping the Indian beauty industry:
The outbreak of COVID-19 has changed the import and export policies of the beauty industry. But with passing time, cosmetics, personal care, fragrance and beauty industry are trying to cope up to deal with this epidemic.
1. Soap has become a new superstar:
Hand washes with soap with regular intervals of time has become the topmost priority of all with the outbreak of the coronavirus. It’s one of the most important factors that reinforce the reach of the personal care industry. And top beauty industries like Avon, have donated soap to help affected countries across the world.
2. Hand sanitizer is crucial:
Hand sanitizer is the next best protection gear against the illness and spread of this pandemic coronavirus. And for this very reason, many personal care companies are switching to make it. Without increasing the price of the bottle, many production houses multiply the manufactures by even 4 times. Companies like LVMH has repurposed its fragrance making facilities to manufacture sanitizer. That’s a bold and commendable step by the industry.
3. DIY’s and home remedies online:
To be connected with customers, skincare brands take an innovative step by spreading awareness and knowledge about skin & hair care with easy home remedies. Many leading makeup brands and online skincare brands use this time to come up with DIYs through social media and successfully engaging its customers by giving glowing and healthy skin care, hair care tips and keep their market alive.
4. Online events:
By understands the need of the hour and the fear in the people’s mind, the beauty industry, especially online shopping websites have come up with innovative ideas to be connected with their shoppers in this lockdown period. It gives emphasis pre-booking order of personal hygiene products, sanitary napkins and sanitizers and many more. This gives the picture of how ready these brands are for future and online beauty & fashion industries.
How this skincare industry can be recovered after the lockdown is over:
According to speculated data, after the situation become well, online sales are expecting to get a hike of 7%-15% in the year 2020. It is not an overestimation to say that, near about 5-6 months is needed to recover from this virus impact. Where retailers are expecting a normal period from the first week of May. All the manufacturing factories are shut down, retailers of skin, hair care, and cosmetic products are suffering, even sellers in an online marketplace like Amazon are struggling to import products into the country. But online sales are expected to bloom when the lockdown is over, as people will not prefer to leave home immediately, which may further enrich the fashion and beauty industry.