Beauty Industries Continued To Put Their Best To Reformulate Their Customers
In the age of 'clean' beauty and a demand for transparency, beauty companies are always putting their best to reformulate key products to address customer feedback. It wasn't until 2020 that Corona Virus disease (COVID-19) became a factor of import in the cosmetics and personal care industry. But, by now, no matter where in the world you are, the virus has changed things. Beauty industry is trying its best to deal with the pandemic. The Corona Virus an illness as well as the precautions and preparations that individuals, institutions, and governments worldwide are taking to deal with the threats and realities of this new virus is affecting every industry in a manifold way.
Of course, the beauty industry is affected drastically too. To put this in to perspective within the US, for example, the personal care industry contributes over $235bn to the GDP and employs some 3.6m people. However, we need to understand the response and results of the pandemic, and look at how the cosmetics, personal care, and fragrance industries are faring under the circumstances. We can consider; soap as a superstar as hand washing along with the science of soap and surfactants have been front and center since the Corona Virus outbreak began. It's a reality that reinforces the importance and reach of the personal care industry. Also, beauty makers like Avon are donating soap to help countries around the world limit the spread of COVID-19.
Hand sanitizer is a hero too as it is the next best option to protect against illness and the spread of Corona Virus for many of the same reasons that make personal care products trendy in conventional circumstances; it's portable and doesn't require water to use. While very few beauty industries offer home care, many of them have started to manufacture disinfectant too. In more, beauty companies like Johnson $ Johnson are already at work developing a vaccine for this particular strain of the Corona Virus.
Beauty may be in the eye of the beholder, but there is little debate when it comes to the long-term attractiveness of the global beauty industry. With new challenges, come new opportunities. And, new industry events are coming online quickly; events that are meant to help corporate leaders and business owners from across the cosmetic and the personal care industry survived and grew during the Corona Virus disruption. And, it's worth noting that Salon Today is putting a webinar this Wednesday for salon professionals which is all about preparing business to weather the Covid-19 crisis. Independent beauty brands are truly facing unprecedented challenges and working as hard as the next benchmark industry to keep this key segment of the industry informed and connected as best as possible. Lab work and clinical testing is been slowed down during this pandemic and numerous beauty makers all along the value chain are taking measures they hoped to never have to take. The industry is promising business as usual, despite logistical changes and preparedness measures being taken behind the scenes.
To conclude, the industry has responded positively to the pandemic, with brands switching to their manufacturing to produce hand sanitizers and cleaning agents and offering free beauty services for frontline response workers. At the same time, the industry's leaders have a responsibility to do their best to ensure that their companies survive. The global beauty industry generates $500bn sales in a year and accounts for millions of jobs, directly and indirectly. Lives come first, but livelihoods also matter. Even though the economic magnitude of the COVID-19 pandemic on brands and retailers will be far greater than any recession, there are signs that the beauty industry may once again prove relatively resilient.