Every industry had taken a big blow when the coronavirus-19 pandemic began. Even some big companies had to sacrifice their employees for the company’s survival. Unfortunately, even though every sector gets a chance to shift virtually, some sectors cannot operate via the internet. The good news is the majority of what we might need during the pandemic has been accessible through e-commerce.
Let’s take a look at how the beauty industry did before and during the COVID-19 pandemic and how they managed to adapt amidst the pandemic.
Before the pandemic
The beauty world is one of the industries that showed continuous growth through the past years, even thriving at some point. Considering the vast industry that composes personal care (e.g., skincare, haircare, and body care), color cosmetics, and professional services (e.g., salons and spas), they have played an essential role in our everyday lives. Moreover, retailers have also made it possible for every beauty product to be accessible anywhere, making a significant impact on the industry’s growth.
During the pandemic
The beauty industry has been utilizing e-commerce way back. Still, it was only during the pandemic when people had to resort to online shopping due to large-scale lockdowns and strict quarantine protocols. While most industries suffered massive losses and few gains, the cosmetic industry somehow survived because of the self-care trend amidst the pandemic.
Many retailers focused on skincare products as there has been an increased demand for various skincare products and tools. This demand also led many beauty retailers, even the smallest ones, to look for wholesale Korean skincare sites to get their supplies from during the pandemic, which can also help them maximize their profits, as they can get competitive prices from wholesalers.
Online shopping became the primary option for getting people’s daily needs. However, some people still have a hard time ordering stuff online due to trust issues regarding quality, authenticity, and wait times. In addition, most older adults still choose to go to physical stores like Walmart and Target to get their needs, even if it means risking themselves getting the virus.
How did the beauty industry adapt to the situation?
Strengthening digital marketing and advertising
Even though most millennials are familiar with online shopping, a significant number of people are still skeptical about it during this time. So providing your potential consumers catchy and informative advertisements and creative digital marketing have been the backbone of most online beauty retailers during the pandemic. Social media and content marketing are some of the most used strategies by beauty retailers.
Focusing on natural and healthier products
Throughout the pandemic, people have realized the importance of natural products that are healthier for our bodies. In addition to that, these people are also getting conscious of what they put on their skin. This new trend is driving cosmetic companies to formulate beauty products with natural ingredients instead of harsh chemicals that can be harmful to the skin.
Improving consumers’ behavior analysis
Every profit organization relies on an effective consumers’ buying behavior analysis to accurately assess the demands and opportunities in a certain period. Understanding your consumer and their spending habits is crucial in keeping a company successful. Even beauty retailers should do this to keep their business relevant even after trends change. Being steps ahead of your competitors is a proven key to success.
Enhancing the digital shopping experience
In-store and online shopping have their different strengths and weaknesses. During this pandemic, online shopping was the safest way to keep our shelves full. Also, most physical stores are closed during the height of the pandemic. Suppose we were to compare them outside the pandemic. In that case, nothing could beat the in-store experience we can get, so the beauty industry needed to bring that experience online as close as possible to their consumers.
Key Takeaway
The beauty industry stayed afloat throughout the pandemic for various reasons. However, they also took measures to adapt to the current situation by improving their digital advertising and marketing, effectively analyzing their consumer behavior, and improving the digital shopping experience for their consumers. Aside from the beauty industry, we need to consider the massive part e-commerce has played to make most industries, like the cosmetic industry, survive amidst the pandemic.
