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Trend Report May 2021 Year 38 issue 5


Editor Jo Allen Sub Editor Austyn King Art Editor Sibylla Duffy Print & Digital Production Editor Charlotte Alldis Print & Digital Production Executive Jodie Rawl Digital Production Megan Daly Head of Print & Digital Production Ross Murdoch Head of Sales Cosmetics Group Carolina Quintana Managing Director Colin Bailey-Wood


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Overview BUILDING BACK BETTER


Covid-19 has acted as a catalyst for change in beauty retail. What will emerge as a result?


D


Monthly Trend Reports With trends developing faster than ever before, the list of upcoming Cosmetics Business Trend Reports is updated every three months. Our next reports are outlined below.


June Personalised beauty July Fragrance August Colour cosmetics


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Health & beauty specialist retailers


$1.27 trillion +0.2


Beauty and personal care e-commerce


$63.8bn +24.9


Health and beauty specialist retailers includes chemists, pharmacies, drugstores, beauty specialist retailers and health care specialist retailers. Source: Euromonitor International


isastrous for bricks-and-mortar and triumphant for e-commerce: 2020 became the year that ‘the death of physical retail’ became a common headline amid a surge in announcements of store closures and bankrupcy filings. But such assertions overlook the irreplaceable role that stores can have for the consumer – and it is just as relevant as it has always been. Freddie Sheridan, Director of global retail design agency Sheridan&Co says in its recent report The New Role of Retail: “We are social beings who crave physical interaction with our environment. Our future will not be days spent doing digital activities. While brands have been able to pivot into digital offerings and create new revenue streams, the advantage of the store will always be determined by ‘human capital’. The only death of retail will be the stores that leave the value of humanity behind.” Florence Wright, Senior Retail Insight Analyst at Edge by Ascential, agrees: “The real advantage bricks-and-mortar retailers have is their ability to create human connections with shoppers, and support product discovery and selection. Online retailers are getting much better at offering similar experiences via the digital shelf, particularly through investments in technology. However, there will always be shopper demand for the in-person experience, and physical retailers can appeal to this through services, consultations and first-hand advice in-store.”


GLOBAL VALUE & GROWTH, 2020


Florence Wright ‘‘


The real advantage bricks-and-mortar retailers have is their ability to create human connections with shoppers, and support product discovery and


selection Florence Wright, Senior Retail Insight Analyst, Edge by Ascential


2 cosmetics business May 2021


cosmeticsbusiness.com


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