The CPG personal care industry saw major disruption in the midst of the COVID-19 pandemic last year. Mask wearing, closed businesses, and prolonged time at home caused many to make different choices regarding their personal care routines and products. The CPG personal care industry needs to understand current consumer behavior and how to shift their promotional strategy accordingly.
At the onset of the pandemic, online sales increased across the board, but growing online sales didn’t make up for lost retail sales for the beauty industry. However, 32% of total revenue in the beauty and personal care industry is expected to be generated from online sales in 2021.
Throughout 2021, consumers are looking for increased transparency from the brands they support, including both the ingredients they choose and stances on pressing issues like sustainability and climate change. Evolving consumer preferences are creating a set of challenges and opportunities for the CPG personal care industry. In order to help our brand and agency partners strategize their way forward, we at Snipp have put together an industry guide which covers some of the key trends that need watching.
The beauty and personal care market is expected to reach $82.26 billion of total revenue in revenue in 2021, with the market growing annually by 4.06%