As almost half of UK consumers plan to socialise outside of the home less, cosmetics have taken a backseat, and the industry is expected to decline by 10% in 2020.
Lia Neophytou, Consumer Analyst at GlobalData, the data analytics body responsible for this finding, comments “When consumers do venture outdoors, the wearing of masks is further diminishing the need for cosmetics. All sectors in the cosmetics and toiletries industry are expected to return to growth in 2021, though will not recuperate their pre-COVID-19 value.”
Sectors most suited to social occasions such as beauty and fragrance will see a steeper decline than skincare and oral hygiene which are used more frequently outside of socialisation. Additionally, personal hygiene products will see less of a decline as people have a more heightened awareness of cleanliness as a result of the pandemic.