Lipstick under my mask? The coronavirus pandemic is going to cause a drop in the beauty market this year. Especially lipsticks.
Tamanna Virmani
Co-Founder. Director. Executive Creative Director at Blue Oktopus Communications
We all have to wear a mask and for how long we don't know. So will women buy lipsticks or will they delay the purchase and put lipsticks under the 'can wait' category.
Most of the women are at home and don't really see a need to apply a lipstick. Even while being on a video call for office work, women are not applying a lipstick. They are getting comfortable not wearing make up. In fact most of the women are indulging in good skin care products and are doing home remedies.
And if the ‘lipstick effect’ is to be believed- a theory which states that during an economic crisis, consumers are more willing to buy less costly luxury goods. In other words consumers will still tend to spend money on small indulgences during recessions.
The lipstick effect might have been true in prior recessions but may not hold true for Covid 19 situation. So lipstick could see a decline because women are working from home and not going outside. The lipstick effect might be true for other things, but not for lipsticks.
We know that the Covid 19 is hit everyone hard. Especially the beauty industry. While the personal care market will be stable and might even show a rise, beauty products such as lipsticks, nail polishes and even blush ons will show a decline in sales.
There are some categories like the -Rescue categories- liquid soaps, hand soaps and sanitizers... these we can't keep away from and we need to use them every day.
Even deodorants, shampoos and conditioners- we can't simply do without them. And in my opinion they are important for our hygiene.
Kline predicts that fragrances and makeup are expected to see the sharpest decline.
Let us see what the coming times will bring for all of us. And these are trying times. And corona virus is unpredictable too.
I see a decline in lipstick market and a sharp increase in eye make up. Because you can't see a lipstick under a mask. Your eyes will have to do all the talking.