Beauty Survey 2020

Industry evolution:

A continually expanding sector with a growing requirement for gap assessment and consumer profiling is characterised by a high intensity of innovations and new product developments.

Consumer Demands:

Consumer preferences are shifting on numerous levels: as individuals get older, their hair and skin demands change, their spending power shifts, and their beauty routines and attitudes fluctuate as they become more aware of new trends and products.

The COVID-19 epidemic has startled the global beauty sector (which includes skin care, colour cosmetics, hair care, perfumes, and personal care).Sales have been slow in the first quarter, and many stores have closed. The business has reacted well to the crisis, with companies switching production to hand sanitizers and cleaning chemicals and offering free beauty treatments to first responders. At the same time, industry executives must do everything possible to ensure that their businesses thrive. The beauty industry generates $500 billion in annual sales and employs millions of people, both directly and indirectly. Although lives come first, livelihoods are equally important.