The global beauty industry has been shocked by the COVID-19 pandemic. However it has responded positively to this crisis, with brands switching their manufacturing to produce hand sanitizes, cleaning agents and other basic hygiene products. The beauty industry has played an essential role during the pandemic.
At the same time, COVID-19 has prompted consumers to re-evaluate their beauty products and needs, as Senior Beauty Analyst from Mintel, Clare Hennigan makes the following points.
More with less
As we emerge from the pandemic and into a recession, consumers are seeking to do more with less. Younger people are improvising to care for their appearance, by using household items and food ingredients as substitutes for products. This has led to an increase in DIY beauty advice, seen on social media. Older adults are likely sticking to actual beauty products, but maybe trading down or rationing what they already have.
Value and ethics
Post-pandemic, consumers will start re-evaluating their beauty purchases and seek items with added value. They will be quick to question whether they really need an item and will want products to be durable and long-lasting. With 61% of adults agreeing that it is important to buy from ethical brands, consumers will also be drawn to companies that embrace well-defined ethics and sustainability in their products.
People before profits
Some brands have recently been criticized for hiking the prices of crucial cleaning supplies and Personal Protective Equipment, and failing to meet safety standards. Consumers will remember the behaviour of companies during this crisis, for example the website DidTheyHelp.com tracks how corporations and public figures have responded to this crisis, noting good and bad deeds and assigning them a score. In the future, consumers will buy from brands that put people before profits and shows support for others.
