BEAUTYSTREAMS Announces a Special COVID-19 Report
Open to the Global Beauty Community
BEAUTYSTREAMS, the global beauty industry reference, announced the release of a special report, THE COVID-19 CRISIS: What comes next? Beauty Industry Challenges and Implications, that accompanies the beauty sector during the current pandemic and beyond. The report, open for free to the global beauty community, will broadcast locally this week in seven languages: English, Mandarin, Korean, Portuguese, Spanish, Italian and French.
The following are some highlights from the report:
“Recovery from the COVID-19 crisis will lead to a chance to reset and rethink certain practices that seemed to make sense up until recently, but which may no longer be relevant,” said Mr. Michael Nolte, Creative Director of BEAUTYSTREAMS. “Crisis can lead to future opportunities, and our report explores how we can react together as an industry by creating a positive wave of collaboration, uniting key beauty industry players, and coming out stronger than before”.
BEAUTYSTREAMS’ report shares high-level findings including the need to question fundamentals such as how the beauty industry will be reshaped and should function in the post-crisis phase. “The current crisis will not only have direct psychological and reactive effects such as we are seeing right now, but also long-term implications as to how people will approach consumption and life. Even though the world is currently panicking, the outcome will eventually result in positive environmental change and smarter consumption habits,” said Mr. Nolte.
BEAUTYSTREAMS foresees more considerate consumption whereby consumers will demand fewer, but better products in a post-crisis world. Once the virus is contained, various crisis-time habits will nevertheless endure. With anxiety levels at an all-time high, transparency within the supply chain and traceability of ingredients will be more important than ever. The imperative for hygiene will transform multiple product formats, while anti-bacterial and self-cleaning packaging solutions are expected to become a regular feature in all beauty categories. Immunity boosters, too, will become more popular and further reinforce the holistic movement with its emphasis on the microbiome, probiotics, epigenetics and the exposome.
With larger groups of consumers taking up the habit of wearing safety masks, the beauty focus will be on eyes and hair. Product formulations will promote protection and defense, especially with regard to blue light and increased screen time. Other new beauty areas and category opportunities include feel-good cosmetics for at-home routines. Comfort and self-care rituals will become commonplace, with wellbeing gaining more importance over perfect Instagram looks. Brands will compensate for reduced bricks-and-mortar shopping with inspirational online imagery and storytelling that evoke texture and product sensoriality. Reduced travel will result in hyper-localism, local production and sourcing hubs which, in turn, will have a positive impact on the environment.
Concluding on a positive note, Mr. Nolte affirms “let’s not forget that every crisis constitutes a chance to rethink things. The Chinese word for crisis is WEI-JI. Wei means danger, and Ji means chance or opportunity, and this is how we should approach what is currently happening,” said Nolte.
BEAUTYSTREAMS is the global beauty industry reference. It is an indispensable source of information for leading companies on six continents, providing future insights, product forecasts, consumer analyses, and market intelligence.
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