The Impact of Covid-19 on the Cosmetics Industry

Research Article
Open access

The Impact of Covid-19 on the Cosmetics Industry

Yijia Jiang 1*
  • 1 Guanghua Cambridge International School    
  • *corresponding author annabelleee_9yj@163.com
Published on 13 September 2023 | https://doi.org/10.54254/2754-1169/11/20230558
AEMPS Vol.11
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-915371-49-2
ISBN (Online): 978-1-915371-50-8

Abstract

In recent years, many industries around the world have been affected and impacted by the epidemic. Cosmetics market growth has slowed significantly since 2022. Under the influence of epidemic, the cosmetics industry as a whole bids farewell to high growth under the impact of the epidemic and then enters the era of R&D (research& development) from the era of marketing. Therefore, this paper explores the changes and impacts of the cosmetics industry before and after the epidemic by collecting annual sales, number and distributions of companies and other data on the Chinese cosmetics market, and analyzing and comparing these data between different companies and brands. The outbreak of epidemic lead to the closure of offline brick and mortar shops, stagnant logistics and also the economic downturn. These has reduced traffic to the offline channel for cosmetics, while fueling rapid growth in online sales of cosmetics. The cosmetics industry should still be on the up and up in the future, but time will have to wait to prove this.

Keywords:

epidemic, cosmetics industry, sales

Jiang,Y. (2023). The Impact of Covid-19 on the Cosmetics Industry. Advances in Economics, Management and Political Sciences,11,277-283.
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References

[1]. Who created the world's first cosmetics? Retrieved on September 2,2022.Retrieved from:https://zhidao.baidu.com/question/1611263614002126747.htm.

[2]. Markets, R., 2022. Impact of COVID-19 on the Global Cosmetic Industry,April 15,2020. Retrieved on August 28,2022. Retrieved from: <https://www.globenewswire.com/news-

[3]. Consumer Insights,2017.Retrieved on August 28,2022.Retrieved from:https://www.cosmeticseurope.eu/files/6114/9738/2777/CE_Consumer_Insights_2017.pdf

[4]. Weilaiji,Kaidi Internet,Estée Lauder’s fiscal 2022 profit slips 16%,with three unanswered questions in China,August 21,2022.Retrieved on September 3,2022.Retrieved from:https://www.9kd.com/note/4117114

[5]. Estée Lauder Group Quarterly Report: Full recovery in physical retail, double-digit growth in Mainland China,June 27,2022.Retrieved on August 30,2022.Retrieved from:https://www.gongshengyun.cn/xinwen/article-15026-1.html

[6]. Bonnie, Estée Lauder FY2022 Q4 and full year figures: full year net sales of US$17.74 billion,August 20,2022.Retrieved on September 1,2022.Retrieved from:https://baijiahao.baidu.com/s?id=1741640269059556481&wfr=spider&for=pc

[7]. Why are perfumes getting better and better?,March 21,2018.Retrieved on August 31,2022.Retrieved from:https://baijiahao.baidu.com/s?id=1595532913261924331&wfr=spider&for=pc

[8]. Gaojian Luo,The epidemic hits hard! Estee Lauder sees rare 4% decline in Asia Pacific,May 15,2022.Retrieved on September 6,2022.Retrieved from:https://new.qq.com/rain/a/20220505A08KWH00.html

[9]. Construction of Estée Lauder Group's Global Research and Development Centre in China officially begins,May 13,2021.Retrieved on August 31,2022.Retrieved from:https://baijiahao.baidu.com/s?id=1699653898531262946&wfr=spider&for=pc

[10]. Lin Yu,With its niche brands exiting China one after another, how will Estée Lauder Group optimize its brand matrix?,August 20,2022.Retrieved on September 8,2022.Retrieved from:http://www.linkshop.com/news/2022492212.shtml

Cite this article

Jiang,Y. (2023). The Impact of Covid-19 on the Cosmetics Industry. Advances in Economics, Management and Political Sciences,11,277-283.

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The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.

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About volume

Volume title: Proceedings of the 2nd International Conference on Business and Policy Studies

ISBN：978-1-915371-49-2(Print) / 978-1-915371-50-8(Online)
Editor：Canh Thien Dang, Javier Cifuentes-Faura
Conference website: https://2023.confbps.org/
Conference date: 26 February 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.11
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Who created the world's first cosmetics? Retrieved on September 2,2022.Retrieved from:https://zhidao.baidu.com/question/1611263614002126747.htm.

[2]. Markets, R., 2022. Impact of COVID-19 on the Global Cosmetic Industry,April 15,2020. Retrieved on August 28,2022. Retrieved from: <https://www.globenewswire.com/news-

[3]. Consumer Insights,2017.Retrieved on August 28,2022.Retrieved from:https://www.cosmeticseurope.eu/files/6114/9738/2777/CE_Consumer_Insights_2017.pdf

[4]. Weilaiji,Kaidi Internet,Estée Lauder’s fiscal 2022 profit slips 16%,with three unanswered questions in China,August 21,2022.Retrieved on September 3,2022.Retrieved from:https://www.9kd.com/note/4117114

[5]. Estée Lauder Group Quarterly Report: Full recovery in physical retail, double-digit growth in Mainland China,June 27,2022.Retrieved on August 30,2022.Retrieved from:https://www.gongshengyun.cn/xinwen/article-15026-1.html

[6]. Bonnie, Estée Lauder FY2022 Q4 and full year figures: full year net sales of US$17.74 billion,August 20,2022.Retrieved on September 1,2022.Retrieved from:https://baijiahao.baidu.com/s?id=1741640269059556481&wfr=spider&for=pc

[7]. Why are perfumes getting better and better?,March 21,2018.Retrieved on August 31,2022.Retrieved from:https://baijiahao.baidu.com/s?id=1595532913261924331&wfr=spider&for=pc

[8]. Gaojian Luo,The epidemic hits hard! Estee Lauder sees rare 4% decline in Asia Pacific,May 15,2022.Retrieved on September 6,2022.Retrieved from:https://new.qq.com/rain/a/20220505A08KWH00.html

[9]. Construction of Estée Lauder Group's Global Research and Development Centre in China officially begins,May 13,2021.Retrieved on August 31,2022.Retrieved from:https://baijiahao.baidu.com/s?id=1699653898531262946&wfr=spider&for=pc

[10]. Lin Yu,With its niche brands exiting China one after another, how will Estée Lauder Group optimize its brand matrix?,August 20,2022.Retrieved on September 8,2022.Retrieved from:http://www.linkshop.com/news/2022492212.shtml

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