At the organization’s annual State of the Beauty Industry Report, presentations from Sparks & Honey, Mintel, Google, Spate, NielsenIQ and The NPD Group both recapped the disruptions in 2020 and outlined the sticky consumer behaviors the industry can expect.
According to the presentation by Mintel, despite unprecedented growth in the channel, e-commerce is far from perfect. Gaining traction with consumers is also key, especially by shifting to local commerce with both large and small retail partners. “We’re still seeing a strong push to a local economy, and brands can do a great job of supporting those local businesses. Collaborating with them is critical,” she said.
In some countries, however, makeup actually prompted growth. Argentina saw beauty take on double-digit growth, according to Larissa Jensen, vice president of beauty at The NPD Group.