Sales of colour cosmetics were hit hard by the outbreak of COVID-19, with a decline in value growth of 8% recorded for 2020, compared to a marginal decline the previous year. With many consumers spending a lot more time at home than usual during the COVID-19 lockdown and ongoing working from home, there was less demand to wear make-up.
In 2020, all products within colour cosmetics recorded a value decline, with the deepest declines seen from lip products. Wearing masks in public meant that lip products faced even further declines than other areas within the landscape, with masks covering this area of the face, making the products redundant.
In order to try and remain profitable, many manufacturers postponed new product launches originally planned for 2020 to focus on selling their more basic and essential lines. Other players, including Kiko, focused on promoting other areas in their businesses that were not impacted by COVID-19, such as skin care.
After the decline in sales in 2020, the colour cosmetics performance will return to positive value growth in 2021, with sales encouraged as some consumers return to work. Although ongoing restrictions are set to impact sales at the start of 2021, loosening these rules across the year is likely to result in more regular and frequent shopping trips, thereby raising the demand for colour cosmetics.
New concepts and innovations focused on e-commerce are expected to expand over the forecast period. The use of e-commerce was boosted in 2020, as consumers appreciated the safer form of retailing, while the closure of specialist beauty stores also led to more consumers shopping online.
Leading players, including L’Oréal and Coty lost significant value sales and shares in 2020, due to the outbreak of COVID-19, and consumers focus on cheaper, essential offerings. However, these players are likely to post a recovery in 2021, especially when focusing on new product launches and innovations catering to consumers current needs and demands.
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Understand the latest market trends and future growth opportunities for the Colour Cosmetics industry in Switzerland with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Colour Cosmetics industry in Switzerland, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Colour Cosmetics research and analysis database.
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