BXP - Vol 4 No 4 May/June 2020 - 17

17

HOW COVID-19 IS
CHANGING BEAUTY

By Emily Gerstell,
Sophie Marchessou,
Jennifer Schmidt and
Emma Spagnuolo of
McKinsey & Company,
with edits from BXP

The beauty industry has been resilient in the past.
Could this crisis have a different outcome?

B

eauty may be in the eye of the beholder, but there

the industry's February sales fell up to 80% compared

is little debate when it comes to the long-term

with 2019. In March, the year-on-year decline was 20%-a

attractiveness of the global beauty industry. Not

rapid rebound under the circumstances. In a variety of

only has it grown steadily, it has created generations

markets, consumers report they intend to spend less on

of loyal consumers. During the 2008 financial crisis,

beauty products in the near term (largely driven by declines

spending in the industry only fell slightly and fully bounced

in spending on color cosmetics) but more than they will

back by 2010. Even though the economic magnitude of

in other discretionary categories, such as footwear and

the COVID-19 pandemic on brands and retailers will be far

clothing. Noting the uptick in lipstick sales seen during the

greater than any recession, there are signs that the beauty

2001 recession, Leonard Lauder of the cosmetics company

industry may once again prove relatively resilient. In China,

coined the term "lipstick index" to describe this phenomenon.

BXPMAGAZINE.COM


http://bxpmagazine.com/

BXP - Vol 4 No 4 May/June 2020

Table of Contents for the Digital Edition of BXP - Vol 4 No 4 May/June 2020

BXP - Vol 4 No 4 May/June 2020
Editor’s Letter
The Scene
CHIEF EXPERIENCE OFFICER SERIES: DR. SARAH ALLEN, MD, AND CLAIRE O’BRYAN, ANP-C
Research: Men’s Personal Care & Grooming
The 17th Annual Makeover Challenge: Re-imagining Education
Research: COVID-19’s Impact on the Beauty Market
High-tech Storytelling
Insights: Heroism and Innovation
The Toolbox
Index of Advertisers
BXP - Vol 4 No 4 May/June 2020 - Intro
BXP - Vol 4 No 4 May/June 2020 - BXP - Vol 4 No 4 May/June 2020
BXP - Vol 4 No 4 May/June 2020 - Cover2
BXP - Vol 4 No 4 May/June 2020 - 1
BXP - Vol 4 No 4 May/June 2020 - 2
BXP - Vol 4 No 4 May/June 2020 - 3
BXP - Vol 4 No 4 May/June 2020 - 4
BXP - Vol 4 No 4 May/June 2020 - 5
BXP - Vol 4 No 4 May/June 2020 - Editor’s Letter
BXP - Vol 4 No 4 May/June 2020 - 7
BXP - Vol 4 No 4 May/June 2020 - The Scene
BXP - Vol 4 No 4 May/June 2020 - 9
BXP - Vol 4 No 4 May/June 2020 - CHIEF EXPERIENCE OFFICER SERIES: DR. SARAH ALLEN, MD, AND CLAIRE O’BRYAN, ANP-C
BXP - Vol 4 No 4 May/June 2020 - 11
BXP - Vol 4 No 4 May/June 2020 - Research: Men’s Personal Care & Grooming
BXP - Vol 4 No 4 May/June 2020 - 13
BXP - Vol 4 No 4 May/June 2020 - 14
BXP - Vol 4 No 4 May/June 2020 - 15
BXP - Vol 4 No 4 May/June 2020 - The 17th Annual Makeover Challenge: Re-imagining Education
BXP - Vol 4 No 4 May/June 2020 - Research: COVID-19’s Impact on the Beauty Market
BXP - Vol 4 No 4 May/June 2020 - 18
BXP - Vol 4 No 4 May/June 2020 - 19
BXP - Vol 4 No 4 May/June 2020 - 20
BXP - Vol 4 No 4 May/June 2020 - 21
BXP - Vol 4 No 4 May/June 2020 - 22
BXP - Vol 4 No 4 May/June 2020 - 23
BXP - Vol 4 No 4 May/June 2020 - High-tech Storytelling
BXP - Vol 4 No 4 May/June 2020 - 25
BXP - Vol 4 No 4 May/June 2020 - Insights: Heroism and Innovation
BXP - Vol 4 No 4 May/June 2020 - 27
BXP - Vol 4 No 4 May/June 2020 - 28
BXP - Vol 4 No 4 May/June 2020 - 29
BXP - Vol 4 No 4 May/June 2020 - 30
BXP - Vol 4 No 4 May/June 2020 - 31
BXP - Vol 4 No 4 May/June 2020 - 32
BXP - Vol 4 No 4 May/June 2020 - The Toolbox
BXP - Vol 4 No 4 May/June 2020 - 34
BXP - Vol 4 No 4 May/June 2020 - Index of Advertisers
BXP - Vol 4 No 4 May/June 2020 - 36
BXP - Vol 4 No 4 May/June 2020 - Cover3
BXP - Vol 4 No 4 May/June 2020 - Cover4
https://www.nxtbook.com/nxtbooks/STMG/bxp_20200809
https://www.nxtbook.com/nxtbooks/STMG/bxp_202007
https://www.nxtbook.com/nxtbooks/STMG/bxp_20200506
https://www.nxtbook.com/nxtbooks/STMG/bxp_202004
https://www.nxtbook.com/nxtbooks/STMG/bxp_202003
https://www.nxtbook.com/nxtbooks/STMG/bxp_20200102
https://www.nxtbook.com/nxtbooks/STMG/bxp_201912
https://www.nxtbook.com/nxtbooks/STMG/bxp_awards2019
https://www.nxtbook.com/nxtbooks/STMG/bxp_201910
https://www.nxtbook.com/nxtbooks/STMG/bxp_201908
https://www.nxtbook.com/nxtbooks/STMG/bxp_201907
https://www.nxtbook.com/nxtbooks/STMG/bxp_20190506
https://www.nxtbook.com/nxtbooks/STMG/bxp_201904
https://www.nxtbook.com/nxtbooks/STMG/bxp_201903
https://www.nxtbook.com/nxtbooks/STMG/bxp_20190102
https://www.nxtbook.com/nxtbooks/STMG/bxp_201812
https://www.nxtbook.com/nxtbooks/STMG/bxp_awards2018
https://www.nxtbook.com/nxtbooks/STMG/bxp_20180910
https://www.nxtbook.com/nxtbooks/STMG/bxp_201808
https://www.nxtbook.com/nxtbooks/STMG/bxp_201806
https://www.nxtbook.com/nxtbooks/STMG/bxp_201805
https://www.nxtbook.com/nxtbooks/STMG/bxp_201804
https://www.nxtbook.com/nxtbooks/STMG/bxp_201803
https://www.nxtbook.com/nxtbooks/STMG/bxp_20180102
https://www.nxtbook.com/nxtbooks/STMG/bxp_201712
https://www.nxtbook.com/nxtbooks/STMG/bxp_20171011
https://www.nxtbook.com/nxtbooks/STMG/bxp_201709
https://www.nxtbook.com/nxtbooks/STMG/bxp_201708
https://www.nxtbook.com/nxtbooks/STMG/bxp_20170607
https://www.nxtbook.com/nxtbooks/STMG/bxp_201705
https://www.nxtbook.com/nxtbooks/STMG/bxp_201704
https://www.nxtbook.com/nxtbooks/STMG/bxp_201703
https://www.nxtbook.com/nxtbooks/STMG/bxp_20170102
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201612201701
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201611
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201609
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201608
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201607
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_20160506
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201604
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201603
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_20160102
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201512
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201510
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201509
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201508
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_20150607
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201505
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201504
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201503
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_20150102
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_20141112
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201410
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201409
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201408
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_20140607
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201405
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201404
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201403
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_20140102
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201312
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201311
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_20130910
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201308
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_20130607
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201305
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201304
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201303
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_20130102
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201212
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201211
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201210
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201209
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201208
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201206
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201205
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201204
https://www.nxtbook.com/nxtbooks/STMG/packagedesign_201203
https://www.nxtbookmedia.com