BXP - Vol 4 No 4 May/June 2020 - 19

19

ƒ
This surge in
DIY nail care has
some speculating
that the current
crisis's lipstick
effect has an
added dimension-
the "nail-polish
effect."

Pat c h ar ap o r n P ut t i p o n 6 3 6 / S h ut t e r s t o c k . c o m

The Boots UK
The principle is that people see lipstick as an

Where and how beauty products are

affordable luxury, and sales therefore tend to

being sold

stay strong, even in times of duress.

In most major beauty-industry markets, in-store

McKinsey has explored nine scenarios for

shopping accounted for up to 85% of beauty

the economy over the next few years, based

product purchases prior to the COVID-19 crisis,

on epidemiological trends and the effective-

with some variation by subcategory. Even

ness of economic-policy decisions. This article

online-savvy American millennials and Gen Zers

highlights some of the scenarios. To learn more

(those born between 1980 and 1996) made

about McKinsey's research, visit the firm's web-

close to 60% of their purchases in stores. With

site, www.mckinsey.com.

the closure of premium beauty-product outlets

Based on the scenarios most expected by

because of COVID-19, approximately 30% of the
beauty-industry market was shut down. While

researchers estimate global beauty-industry

some stores have re-opened, other stores may

revenues could fall 20% to 30% in 2020. In the

never open again. New store openings will likely

U.S., if there is a COVID-19 recurrence later in

be delayed for at least a year.
McKinsey identified several ways beau-

The McKinsey team looked at the beauty indus-

ty-product sales are changing as a result of

try's recovery against each scenario, consid-

the pandemic and the subsequent lockdowns,

ering two key factors: where and how beauty

including:

products are being sold and what is being
purchased.

reported its

overall sales fell
by two-thirds
between

global executives and current trends, McKinsey

the year, the decline could be as much as 35%.

drugstore chain

March 25 and
April 3, 2020,
with beautyproduct revenues
contributing to the
decline.

Beauty-product sales at essential retailers
are down. While brick-and-mortar drugstores

BXPMagAzine.com


http://www.ShutterStock.com http://www.mckinsey.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
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