Beauty Industry and covid 19

                                             

             Beauty Industry and COVID-19 

                                        

   According to economists, The coronavirus is throttling the global economy which is the biggest cause of the economic crisis since World War II. The question is not whether the economic crisis will come or not for all industries, the question is how long it will last and how deep it will go and hollow out the economy of any country.

                             

The economic devastation of the coronavirus began in January 2020. The epidemic, which broke out in Wuhan in late December last year, dealt a severe blow to the supply of global products and raw materials.

Many international conferences and expos have had to be cancelled or postponed due to human-to-human transmission.

The world's largest mobile event, held in Barcelona, ​​Spain, could not be held at the Mobile World Congress (MWC). Remember that Barcelona city earns 492 million pounds from this one conference alone. 

After the cancellation of the Mobile World Congress, the line was drawn. Be it Facebook's F8 conference or Microsoft's Build conference, Apple's WWDC conference or Google A / O, Dubai World Expo or the Tokyo Olympics to be held 4 years later or the world's largest event in technology South by Southwest (SXSW), all cancelled or postponed.

Many industries are on the brink of collapse. Airlines' bookings have dropped by 95%. Disney World and theme parks are closed.  There has been a 25% decline in health and makeup. Entertainment is in crisis at 22%, restaurants at 30%, transport business at 45%, shopping at 60%, rental cars at 80%, and a few businesses at all. 

All beauty industries

                             

After the virus officially infected six of the seven continents, its impact on the beauty industry is far-reaching and severe. Sales have fallen sharply due to travel restrictions and a reduction in the number of physical stores. In this situation, the digital realm has become a key player for many brands that can sell more and more until it is reduced. Instead of visiting stores for their customers, companies have turned to the Omni Channel to buy products online.  and it is hoped that this will help the industry to fully back up its feet as well as help the consumers.

The famous research & Management consulting firm McKinsey & Company published the current report

and showing the graph chart of companies performance in the current scenario 

                    
                         
However, some big names in the industry have not yet been able to play a responsible role in mitigating the effects of the disease by putting their own interests aside by focusing on the health of employees and consumers.

                                                                                                                    

The global beauty industry (based on skincare, colour cosmetics,  and personal care) is in crisis. First-quarter sales are weak, and there are widespread store closures.

The industry is responding positively to this crisis, brands are developing hand sanitizers and cleaning people are staying in their manufacturing to prepare the agency and offer free services to frontline response workers. Similarly, the industry guide village also does its best by its companies. The global beauty industry acquires 500 billion products and millions of employees a year, directly and indirectly. Lives come first, but society also makes a difference.

Acupuncture testing and product sampling are commonplace in retail beauty stores and department stores around the world. However, in the context of COVID-19, it is no longer appropriate to assure consumer safety. Sephora, Alta Beauty and other cosmetic companies have issued statements confirming that all inspections of store make-up and skincare testing have been suspended for now. Alternatively, users are asked to access companies' online tools through their virtual beauty apps.

                                    

Hygiene first

Given the sensitivity of this issue, cosmetics professionals and beauty professionals need to be very careful with their routine. Licensed cosmetologist and make-up artist Blake Galatelli-Mack shared in a recent interview that he now starts making-up appointments by washing his hands thoroughly. He also said that he asks his clients to do the same. "We are watching the news not to touch your face. Well, in my industry I should touch your face. So, I have to make sure I'm clean all the time, "said Getley Mack.
This article focuses on the precautions that the beauty industry has taken to reduce the damage to the world. Speaking of Pakistan, for example, some salons have announced that they have so far decided to tackle the problem. Duplex Group has announced that it will only hire clients by appointment, while Nabila Salon maintained that its staff is taking strict hygiene measures to ensure the safety of their clients.

                          

This article provides a possible overview of CoVID-19 on the beauty industry over the next three to six months. Then there is the long-term industry, which fundamentally changes its approach and allows it to communicate like a strategic player and investor.