beauty-market-COVID19

Impact of COVID-19 on the cosmetic market

Mar 17, 2021 Media Press

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Beauty industry under COVID-19

COVID-19 has hit the global economy made 2020 a harsh year for the world. Before the coronavirus pandemic, the U.S. prestige beauty market was up $78 million year-over-year, per NPD data in January-February, 2020; but then following a decline of $1.4 billion year-over-year by March-April, 2020.

Cosmetics sales plummeted in 2020 because of the pandemic. And because of the changing lifestyle during the period, there are new opportunities for the cosmetics industry.

false eyelashes

eyebrow products

mascara

eyeliner

Makeup products and fragrance

Eye-cosmetic plays strong

Working from home has been the main working form during the pandemic. Physical distancing and mask-wearing have become essential in public. Because of this new lifestyle, makeup products and fragrances have become less important, which resulted in a 55% and 75% decline in cosmetic and fragrance sales.

Among the makeup products, eye-makeup sales could be an exception since it's the only part non-covered by the mask. In China, Alibaba reported that eye-cosmetic sales increased 150%, month over month, during the week of February 18, 2020. For the U.S. market, even though the performance in the first half of 2020 has dropped a whopping 25%, eye products have led growth with a 6% increase in May-June 2020. The top categories are false eyelashes (up 14%), mascara (up 8%), eyebrow products (up 8%) and eyeliner (up 7%).

Though the world is in recovery from COVID-19, people are still concerned about taking off the mask. Eye-cosmetics are expected to keep the top position in the cosmetics categories.

Skincare products

Unlike cosmetic products, skincare products could be regarded as a luck category in the beauty industry during COVID-19. Skincare products showed a significant sales growth in the U.S. Close to 40% of US women are using more skincare products than in 2019, per NDP.

Amid COVID-19, the skincare routine has been changed. Respondents admitted that during COVID-19, they use more washing or moisturizing products than the pre-pandemic period, and one-third have expanded their skincare routine to include more products.

Except for eye-makeup products and skincare products, nails and hair care products also hold a portion of the beauty market sales number during the COVID-19.