Jamie Matusow, Editor-in-Chief and, Joanna Cosgrove, Contributing Editor11.04.20
What a difference a few months made. From Beauty riding high in late 2019 to the severe repercussions brought on in 2020 due to the global pandemic and perhaps, most notably industry-wise, brick-and-mortar and travel retail closures—our Top 20 along with many beauty brands, relied on quick and nimble thinking and new products (including huge amounts of hand sanitizer and PPE) to weather the unprecedented storm.
While it didn’t replace in-store sales, digital helped save the day.
With a continuous spike in online sales, punctuated by additional Covid-19 disruptions, new corporate leadership and racial diversity goals, 2020 has marked a groundbreaking transition to meet the demands of consumers whose shopping habits have morphed, and whose immediate daily needs and beauty preferences have altered (ie, skin care over makeup).
A thirst for Prestige remains strong and China stands as a key prize as it emerges from the pandemic. (However, according to a report by online retailer JD.com, young, wealthy Chinese consumers are now favoring domestic DTC brands rather than global ones in certain categories, including cosmetics.)
<
Continue reading this story and get 24/7 access to Beauty Packaging for FREE
FREE SUBSCRIPTION
