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According to McKinsey Consulting, the good-looking industry has noticed that its sales are halved annually.McKinsey expects global revenue to fall by up to 30% by 2020, but consumers are still buying good-looking products and the industry is adapting to COVID.-19 was Ironically, this industry is like a cockroach. Find out how to survive.
At the beginning of the pandemic, giant corporations such as Estée Lauder Companies Inc (NYSE: EL) and L OREAL SA/ADR (OTC: LRLCY) (OTC: LRLCF) moved their production to hand sanitizers.Fortunately, it’s easy for attractive corporations to switch their production to disinfectants because alcohol is contained in most of their products.But history goes far beyond disinfectants.
Beauty in the COVID era
Today, hot corporations sell disinfectants that smell and look much more complicated than editing this undeniable hygienic tool. Disinfectants and face masks have become the new fashion statement. Some brands have even started infusing healthy additions like zinc into the cloth mask to increase its price. by stating that they have antimicrobial properties.
I don’t want makeup
Beauty corporations are experts in identifying a challenge and seeking to solve it.Sometimes they even manage to create a desire from scratch. When the pandemic began, brands tried to convince women that they wanted makeup for convention calls at Zoom Video Communications Inc (NASDAQ).: ZM) or meetings through Microsoft Corporation Groups (NASDAQ: MSFT). But as the blockade continued, we became accustomed to seeing imperfections, as well as pets and young people running.It’s checking the box titled “Retouching My Appearance”.
Estee Lauder – The Symbol of Industry
The effects of the fourth quarter of Estee Lauder reported that sales of skin care products increased by 1/4, while makeup sales fell by more than half.The increase in online sales was not enough to compensate for the closure of stores as revenue and profits fell.Estée Lauder revealed that its net earnings had declined.It was cut to more than half to $680 million in June.The fall came despite the group’s $800 million in savings, adding cuts to advertising and a freeze on hiring.June’s quarterly dividend was not distributed. Estée Lauder will reduce its global workforce through 2,000 people.Cuts are expected to save the company up to $400 million a year.
Estée Lauder’s most recent effects report reflects the set.Even L’Oréal saw its sales fall by more than 11% in the first six months of the year.
Masks have replaced makeup with the wellness of beauty
NPD reported that prestigious makeup has noticed that its sales fall by 37% in the last six months.71% of women in the company’s studio reported that they wore less makeup because of their new lifestyle.Women have become more involved in the inner good.The known lipstick index reached its level, however, corporations have discovered a way to put other products in the minds of consumers and even on their faces, such as eye makeup, according to NPD sales data.
One of the reasons DIY remedies are now popular is that spas and beauty salons were closed after closing.Sales of nail polish had suffered before the pandemic, but are now booming because women may simply not make their manicures in beauty salons.
The new fashion word
The face mask will remain a component of our long term for some time.Beauty likes to throw a smart fashion word, and this time, that word is maskne.Describes the appearance of acne around the domain where a mask is used.This term is new because it is derived from fundamental inflammation and inflammation caused by physical friction.Moisture and internal dirt from the mask can only worsen the underlying condition, creating an ideal environment for bacteria to develop.
From lipstick to care
The “lipstick index,” a term coined by Leonard Lauder, was not maintained this time.NPD reported that lipstick sales have plummeted over the past six months, as masks have become the known way to combat the spread of COVID.replaced him. But there is no explanation why to think that good looks will not rise in the wave as the 2008 recession did because the basics have not changed: people are willing to splurge on small luxuries to help them feel better physically and mentally in those unprecedented times.
But it seems that makeup sales will remain weak for the foreseeable future. The pandemic has led to long-term adjustments in customer behavior. Consumers still buy good-looking products, but their priorities have changed, as well as the way they value brands.. COVID-19 has redefined the industry’s look of good looks.
This article is not a press release and was written through a verified independent journalist for IAMNewswire.It doesn’t deserve to be interpreted as investment advice.Read the full disclosure. IAM Newswire does not hold any position in the above corporations.Press Releases: If you are looking for a full distribution of press releases, please contact: [email protected] Contributors: IAM Newswire accepts presentations.If you want an IAM journalist, contact: [email protected]
The beauty at the time of COVID gave the first impression on IAM Newswire.
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