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With Fewer Consumers For Cosmetics, Brands Focus On Skin Care

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Brands are also launching clean beauty products to harness consumers’ growing hygiene awareness.

Makeup and cosmetics are among the categories facing a downturn during the pandemic as consumers see no opportunity or desire to spend on them. Beauty and wellness brands like Colorbar Cosmetics, Nykaa and L’Oréal India are therefore looking for other ways to stay relevant. Colorbar Cosmetics postponed the launch of its color cosmetics and introduced a new line of skin care products. Nykaa has expanded its skin care line by launching products under its private brands Nykaa Beauty and Nykaa Naturals. Brands are also launching clean beauty products to harness consumers’ growing hygiene awareness.

The beauty and wellness market in India, according to experts, is valued at Rs 80,000 crore, of which cosmetics account for a 10-15% share. Amid the downturn in offline beauty stores (salons) due to Covid-19, the demand for home skin care is expected to increase, according to a report from Deloitte India. The report also predicts an increase in new areas of demand including “home makeup”, “mask makeup” and “contrast makeup”.

Skin care is in

Colorbar Cosmetics, owned by Modi Enterprises, has launched a line of daily essentials ColorbarCare, which includes products such as body lotions, body mists, body washes and hand creams, as well as sanitizing products such as hand hygiene gels and hand cleaners.

Samir Modi, founder and CEO of Colorbar Cosmetics, says a new order is emerging. “We have consciously prepared our skin care product launches while deferring color cosmetics. All of our efforts are also directly related to the fact that the skin care market is currently around five times the size of the makeup market. “

Colorbar’s skin care line currently contributes 10% of its overall sales; the company expects this to increase rapidly in the future.

Meanwhile, Nykaa Beauty has introduced body yogurts to its Wanderlust line, and Nykaa Naturals has added three variations – anti-pollution, superfoods, and radiant beauty – to its skin potions facial oils category.

“Going forward, we will continue to map customer demands and connect with them through our digital marketing initiatives. We are also launching more home and travel essentials at affordable prices in the coming weeks, ”said Reena Chhabra, CEO of Nykaa Brands.

These companies partner with influencers on social media to promote newly launched products. Nykaa also offered discounts to customers on its private label products.

Meanwhile, Colorbar runs online trainings and DIY classes through its academy trainers for newly launched products.

Cosmetic change?

Industry experts believe beauty and wellness brands are only adopting this strategy in the short term and may focus on their core offerings again as the crisis subsides.

“Wherever it is possible to connect with the consumer, companies are reassessing their portfolios, making tactical decisions and launching products,” says Ankur Bisen, senior vice president, retail and consumer products, Technopak. “However, these companies will not change their DNA,” he adds.

Pinakiranjan Mishra, Partner and National Leader in Consumer and Retail Products, EY India, agrees. He says it’s only a matter of time before color cosmetics make a comeback.

The beauty and wellness market is expected to remain impacted in the long term, as touch and feel are big factors in this industry, and a recovery is unlikely until consumers start to exit.

So far, according to Abheek Singhi, BCG lead partner, this strategy is working well for brands. “Given that most of the players operating in the segment have significant overlaps between the skincare and cosmetics lines, it makes sense that they focus on one, while the other takes a hit. “

Also Read: Impact of Coronavirus: How Film Acquisitions Will Boost OTT Video Platform Subscriptions

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