How Covid-19 has redefined Asia’s beauty market

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by: Inside Retail Asia

The Covid-19 pandemic has transformed Asia’s beauty market, with e-commerce now a key factor for brands to rebound, according to consultancy Kantar.

Before Covid-19 hit, the beauty market was forecast to grow in some Asian countries, including China and South Korea by 9 per cent and 4.8 per cent respectively. However, like other industries, the beauty market has suffered from the impact of the pandemic.

Kantar divided Asia’s beauty market into three stages – growth categories, those in a U-shaped recovery and those in an L-shaped recovery.

Growth categories are sectors that are actually doing better than before the pandemic, including body wash, hand wash and sanitiser. A U-shaped recovery can be seen in skincare and haircare sectors, which have rebounded relatively quickly after experiencing a steep fall when the pandemic started. Makeup has become the sector struggling the most, and will take longer to rebound than others.

 

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