The Impact On Big Beauty During COVID-19

May 17, 2020

The Impact On Big Beauty During COVID-19

The COVID-19 outbreak has set afire a new set of needs and demands and has driven some fringe health trends into he mainstream.

Many people and industries have been devastated by the sudden halt. In response to this extraordinary shift in daily life,  the beauty industry has made an obvious pivot. We see large manufacturers dedicating their factories such as L'oreal, P&G, LVMH, JnJ to hand sanitizers, cleansers, personal protective gear, as well as ventilators to support global efforts. 

According to Kline & Company, “the U.S. cosmetics and toiletries market is on track to experience the steepest decline ever recorded in the 60+ years Kline has been tracking the market.” (Global Cosmetic Industry). Although the market is taking a shocking decline in sales, data researchers predict a growth rate of 1% through 2024, totalling $78 billion (Spate®). In early March, the Google searches that were trending were:

  • “How to wash your hands” searches had grown 78% since 2019

  • “Hand sanitizer” searches had grown 275% since last year (+175% since January)

In the meantime, searches for immune boosting vitamins have spiked.

  • elderberry: up 52.4% since last year

  • vitamin C: up 25% since last year

  • echinacea: up 13.1% since last year

  • zinc: up 7.7% since last year

Make up and perfume have taken an obvious fall this year. But the beauty industry did not make the the declining list for industries. On the contrary, beauty categories made the TOP 100 Growing List (Stackline®):

  • Soap and body wash (+194%)

  • Hair colouring (+115%)

  • Nail care (+108%)

  • Skin care (+99%)

  • Body lotion (+79%)

The beauty industry has jumped to command, leaning toward progressive trends that can now serve the wellbeing of an awaiting population. Engaging in active awareness, education and science and innovation, we will see companies large and small steering into safe waters where we can all find calm in our world again. 

What We Can Do Now

This rapid upending of daily life has managed to generate the fear - educate - action attitude in as many people as it has impacted. Action you can take now is prevention action, action for self care, care when it relates to our immunity, care for emotional and mental health, isolate for safety of everyone and do "fell good" activities.

Leave a comment

Comments will be approved before showing up.

Also in MC2 BLOG

Clean Green Silicones - Alkanes - C-13-15
Clean Green Silicones - Alkanes - C-13-15

January 02, 2021

Alkanes are plant based silicone alternatives that can be non-comodegenic and used in oil-free formulations, the material is ECOCERT approved, USDA certified bio-based. Additionally, as alkanes are organic compounds, it is fully biodegradable. 
Alkanes can be sustainably and ethically sourced very easily and every established global market relies on eco-strategic partnerships with farmers and agricultural bases. By chemical nature, coconut and plant sugar derived alkanes are stable, which applies to formulating cosmetics for extreme conditions (such as intense climates or highly acidic formulas). Read more...

Read More

Innovation Superclusters - How They Will Help The Canadian Cosmetic & Beauty Industries
Innovation Superclusters - How They Will Help The Canadian Cosmetic & Beauty Industries

October 09, 2020

Read More

PARIS In the Big Beauty AI Research Game
PARIS In the Big Beauty AI Research Game

September 18, 2020

Big Beauty is getting into the AI research game. L’Oréal and Kering are amongst the five founding sponsors of the new Hi! Paris research centre, according to  The research centre has been supported by the Haute École de Commerce Paris and the Institut Polytechnique de Paris and focuses on artificial intelligence and data.

Read More