Consumers Spending Less On Cosmetics As COVID-19 Epidemic Continues, Study Finds
Consumers are spending considerably less on cosmetics during the coronavirus crisis, with the latest COVID-19 - Impact Consumer Spending Tracker by IRI, for the week ending 12 April, showing significant drops in many European countries.
Cosmetics sales were down 83.4% in Spain, 43.4% in France and 22.9% in the UK during the period, however other personal care categories have seen an increase – in Italy, for example, hair colourants were up 160.6% and shaving/hair removal products rose 125.9%.
Good April weather has also seen growth in sun-care sales, which rose 149.1% in the UK, as well as seeing increases in France Germany.
Consumers are spending more on food (including dairy, frozen food, packaged food and alcohol), which rose 29.8% in the UK, 30% in Italy and 34.7% in Spain.
Another notable trend is that large manufacturers are losing share to small- to mid-size manufacturers, as well as private label, as the situation continues.
IRI's COVID-19 - Impact Consumer Spending Tracker measures FMCG channels in the UK, US, France, Italy, Germany, Spain, New Zealand and the Netherlands.
The latest edition of the report can be found here.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.