The beauty industry, sparkly and cheerful on the outside, is learning to embrace a new reality in the face of the COVID-19 pandemic. While struggling to stay afloat, beauty businesses all over the world are trying to figure out how to stay viable amidst the unimaginable disruption. With the physical and financial uncertainties posed by the pandemic, the beauty industry must now turn to creative solutions to ensure their survival.
1. Riding the Wave: The Beauty Industry During the COVID-19 Pandemic
While much of the world has been struggling during the COVID-19 pandemic, the beauty industry has flourished. Thanks to technology, beauty enthusiasts have been able to continue engaging in their beloved activities—though some with altered approaches.
Unlike most nonessential businesses, the beauty industry has been able to ride the wave of the pandemic. With at-home delivery, virtual services, and curbside pickup options, professionals and consumers have found alternative and safe ways to join together in the beauty arena.
- At-home delivery services have allowed customers to receive products including skincare, haircare, home spa essentials, and a plethora of cosmetic items.
- Virtual makeup and cutting tutorials have provided beauty professionals an opportunity to virtually connect with their clients.
- Curbside pickup and unmasked, outdoor services have made in-person beauty activities more accessible and secure.
The ability to transition into the digital world has given people many ways to unleash their creativity and engage with the beauty world. From perfecting their makeup technique to trying out new hair colors, people have been able to keep up with their beauty routines while protecting their health and safety.
2. Understanding the COVID-19 Impact on the Beauty Industry
The pandemic has ushered in a whole new set of challenges for the global beauty industry. From safety concerns to financial worries, the industry has been forced to pivot in order to remain afloat.
New health and safety protocols have become the norm, as businesses look to protect both their staff and customers. With restricted access to salons and spas, clients are turning to DIY beauty trends and online shopping. This has presented an increase in the demand for at-home beauty regiments, and the industry as a whole has had to embrace the shift to e-commerce.
Immense financial losses have taken their toll on the beauty industry, with many businesses facing major drops in revenue. Despite this, many business owners have proven to be resilient and have taken the opportunity to innovate. In order to remain competitive, businesses have had to pivot and find new ways to appeal to customers. They’ve taken to social media more than ever before, providing education on products, hosting virtual tutorials, and offering discounts on products.
Other innovative strategies include:
- Omnichannel marketing strategies
- Providing contactless payment options
- Creating subscription-based services for loyalty programs
- Developing digital-exclusive products
The pandemic has certainly had a major impact on the beauty industry, but businesses are proving that with the right strategic approach, they can still thrive.
3. Adapting to a New Reality: Creative Strategies During the Pandemic
Search for New Opportunities
The past year has presented many challenges that have pushed us to think more creatively. But those challenges have also invited us to search for new opportunities as well. From the comfort of our own homes, we can explore avenues we’ve never imagined. From blogging to freelancing, take this time to look into growing your own business or developing a new skill – leverage this moment to make a positive difference in your own life and the lives of others.
Reconnect with Nature
We often forget to take a step back and appreciate the beauty of our surrounding environment. At this time, there is an opportunity to rekindle our relationship with nature and use the space to nurture ourselves with the serenity of the outdoors. Take a walk in nature and observe the trees, plants, and birds. Appreciate the smaller moments of stillness and moments of joy.
Self-care and Reflection
The pandemic has given us the opportunity to look inward. To take some time to reflect on how we’ve been living our lives and identify the areas where we can make healthier, more conscious decisions. Allow yourself to indulge in practices like yoga, meditation, journaling, and breathing exercises. It can help you quiet the noise and understand yourself better.
Push Your Creativity
Now is also an ideal time to nurture your creativity. Try a new hobby or join an online class to introduce yourself to something new. And pursue an old hobby if you want to. Try to explore your creative side and learn something creative every day. Inspiration can come from anywhere and take many different forms. It could be as simple as cooking something new, learning a new language, or starting a blog. These are all activities that can aid in self-improvement and make the most of this time.
4. Identifying Challenges: The Big Question Marks for the Beauty Industry
The beauty industry faces numerous challenges today:
The beauty industry is a dynamic and constantly shifting environment – with changing standards of beauty, new ethical standards, and burgeoning demand from consumers, the industry players must rise to stay relevant. Unsurprisingly, this creates numerous challenges for the industry.
A big challenge for beauty companies is to stay competitive in a rapidly evolving space. With innovation and new technologies constantly entering the market, cosmetic, skincare, and haircare companies must stay ahead of the competition or risk falling behind. This means companies must take extra steps to ensure they’re creating effective new products and marketing strategies.
The beauty industry also faces increasing consumer demands for products with ethical and sustainable practices. Consumers want to ensure their products are cruelty free, ethically sourced, and have minimal environmental impact. This requirement for transparency has an impact on the cost for companies to maintain and is an ever-increasing challenge for the beauty industry.
Another key challenge is navigating the legal framework in a changing environment. In a globalised world, there are vast differences in the regulations, laws, and attitudes towards the use of certain cosmetic ingredients and products, making it difficult for companies to navigate the complex environment. This is an increasing challenge for companies as laws are constantly changing and the industry must adapt accordingly.
- Staying competitive
- Responding to consumer demands
- Adapting to changing legal framework
The beauty industry is certainly a challenging one, with many big questions marks still to be uncovered. But, with these challenges come immense potential. Industry players have the chance to create innovative new products, stay ahead of the competition, and provide consumers with ethically produced products.
5. Looking Ahead: The Changing Landscape of the Beauty Industry After the Pandemic
The beauty industry has been drastically affected by the ongoing pandemic. Many salons, barbershops, and beauty stores have been forced to close or limit customers, which has had a major impact on the industry as a whole.
Although the pandemic is far from over, it’s important to consider how the beauty industry can adjust and adapt going forward. With an ever-changing landscape here are 5 key takeaways:
- Social media presence has become increasingly important for businesses trying to reach new customers. Many have had to rely on digital platforms like Instagram and YouTube to showcase their products and services.
- Consumer demand for online-only services has grown. Services like skincare consultants and at-home haircuts are gaining more traction and changing the way people traditionally go about their beauty needs.
- The recession has had an effect on the market. Affordable products or services are becoming more sought-after, and many companies have had to switch their focus to meet those needs.
- The pandemic has also shifted the focus towards self-care and hygiene, with practices such as wearing a mask becoming the norm in public spaces.
- Personal safety has become an important factor across the beauty industry, and many businesses are taking additional steps to ensure their customers are safe.
The beauty industry can still thrive as it adapts and changes in the wake of the pandemic. With the right strategies and initiatives, businesses can lay the foundation for a successful post-pandemic landscape.
The coronavirus pandemic has left its mark on the beauty industry as on so many other industries. Despite the challenges, the beauty industry has remained resilient throughout the pandemic and has found new ways to adjust and innovate. Though the future remains uncertain, the world of beauty remains unwavering in its commitment to providing products and services that make people feel their most beautiful.
