Cosmetics industry to remain ‘resilient’ during outbreak

Why the industry is well-placed to survive the Covid-19 pandemic.

With the mainstream media focused on panic-buying of toilet paper, there’s also been a run on personal care products such as cleansing wipes and shower gels.

As more Australians work from home and cocoon in the evening, the personal care and cosmetics industry is well-placed to remain resilient during the Covid-19 outbreak, says Brand Finance.

The European firm is the world’s leading independent brand value consultancy and estimates that the world’s biggest companies could lose up to US$1.07 trillion in brand value.

But it’s not a level playing field.

Brand Finance predicts that household products, cosmetics and personal care, food and pharma will experience limited impact.

Tech, logistics, engineering and construction are likely to face a moderate impact with a 10 per cent decline.

The hardest hit will be the retail, hotel and travel industries, which could suffer a high impact decline of 20 per cent.

Worldwide, brands across nearly every sector need to brace themselves, says David Haigh, CEO of Brand Finance.

“However, it is not all doom and gloom. Some brands will fare better under Covid-19 such as Amazon, Netflix, WhatsApp and Skype“.

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