₹3,000 Givenchy lipstick under a mask while on a grocery run today? Much as you may want to, you cannot—and this is reflected in the drop in sales across the world.
Yet, though stores may be closed and there may be no places to visit, the need to feel and look good has increased the market share for skincare, a trend that has been seen in India too.According to data by market research company NPD Group, make-up sales dropped by 22% in the US in the first quarter of 2020.
For a segment which relies heavily on personal interaction and trials, the closure of stores spelt disaster. The first-quarter financial results for American beauty giant Ulta Beauty Inc.