ENGLEWOOD CLIFFS, N.J., July 28, 2020 /PRNewswire/ -- The global COVID-19 crisis has upended almost every part of daily life; people's social and travel plans have been canceled and many still work from home.
The effect of COVID-19 applies the same to the beauty industry. With this mass upheaval, the global beauty market has experienced a drastic downfall in sales. According to the data released by Mckinsey & Company in May 2020, the global beauty industry is expected to lose its revenues up to 30 percent in 2020, and up to 35 percent in the United States.
Though the past two months witnessed a steep decline in makeup sales, some positive changes have been made in the skincare sector. According to Dr. D.H. Cho, CEO of Green Alley, "What people are looking out for today are core basics essential to their daily skincare routine. Additionally, we have seen a rise in sales in self-care and at-home treatment categories for specific skin concerns, especially in acne, blemishes, and eczema related products." Dr. Cho then added, "Since the outbreak of the pandemic, many people have become more conscious about what they and their families apply to the skin in search of safer and effective ways to ensure their wellness."
The natural beauty was already quite dynamic pre-pandemic but has been further escalated during the coronavirus. "As per the new normal affecting the beauty industry, we have been adjusting to new changes to meet consumers' needs and expanding our collections of products that ensure clean ingredients, transparency, and safety," Dr. Cho concluded.
Given the realities of physical distancing and mask-wearing, heavy makeup has become less of a priority. Instead, people are now more keen on products that can liberate them from feeling constrained underneath the mask. With the people slowly adapting to what is new normal, the trend is likely to continue even as people return to stabilized life.
About Green Alley
Green Alley is the first U.S. distributor devoted to finding only the cleanest skincare brands in South Korea. Believing that the core of good skincare products is in their ingredients, it has created standards to ensure that all products are natural and cruelty-free. Green Alley currently distributes natural K-beauty products to Whole Foods Market in the North East, Midwest, Florida, and Mid-Atlantic region.
SOURCE Green Alley