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Infographic | The Business of Beauty: Pandemic Briefing

19 Nov 2020 Elizabeth Timmis McHugh
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in Beauty, Infographic, Trending

Though we have seen beauty ecommerce skyrocket during the pandemic, overall industry sales will decline in 2020, as ecommerce has not fully made up for the loss from brick and mortar. Purchasing frequency has also changed, with women wearing less makeup as they spend more time at home. These developments accelerate the initiatives beauty brands already needed to prioritize: stronger ecommerce and a holistic approach to beauty. Beauty is now fully aligned with self-care, and consumers are investing in their skincare, at-home spas, and beauty tools via digital. Short term, the excellent news for beauty brands is that beauty remains an escape for many consumers while at home; long-term, beauty makes many women feel more confident, and that behavior will drive a full recovery.

BusinessOfBeauty_Infographic

2020 BRIEFING HIGHLIGHTS

    1. Time for a makeover: 69% of Millennials now feel that beauty brands need to show more diversity—as compared to 52% of all adults—and 59% of Gen Zers are tired of being told how they should look—as compared to 45% of all adults.
    2. $52.8B: estimated beauty retail sales in 2020, a -7.7% decline from LY
      • In spite of the pandemic, the haircare and skincare categories are expected to grow .8% and 2.4% respectively; color cosmetics will be most affected, down -10.7%
    3. Efficacy at a price point is key: consumers are seeking value. Search volume for value brands The Ordinary and CeraVe are up 193.9% and 127.6% respectively
    4. Highly engaged Millennials and Gen Zers are looking for self-care, fun, and an escape while at home: beauty delivers
      • 38% of 18-34-year-olds have tried a new product, while 34% have tried a new brand
      • 23% of that same age group have tested a new shopping service, and 21% have added a new product to their routine

At Stella Rising, we have helped build some of the world’s most beloved beauty brands. We pair strong consumer research with an expertise in ecommerce, driving revenue, expanding audiences, and accelerating growth. Connect with us to help you brand shine in 2021 and beyond.

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