Transcript
People are ditching their beauty routines as they work from home and makeup companies are taking a hit.
Beauty industry watchers and cosmetic companies say consumers are gravitating toward a more low-maintenance and natural look.
Since people are staying at home and paying attention to their health, they are focusing more on their skincare rather than their makeup routines they said.
According to the market research firm NPD Group, makeup sales were down 22 percent in the first quarter versus a year ago and fragrance sales declined 13 percent.
Social distancing and self-quarantining have also become barriers and trying on makeup in stores which has contributed to lost sales.
And in April unemployment in the US urged to a record high of 20.5 million Americans, leaving millions with less income for nonessential shopping.
Posted – 5.11.20