McKinsey Approximate 30 Percent of The Beauty Outlets Were Shut Down. Some Will Never Open Again.

“In most major beauty-industry markets, in-store shopping accounted for up to 85 percent of beauty-product purchases prior to the COVID-19 crisis, with some variation by subcategory. Even online-savvy American millennials and Gen Zers (those born between 1980 and 1996) made close to 60 percent of their purchases in stores.

With the closure of premium beauty-product outlets because of COVID-19, approximately 30 percent of the beauty-industry market was shut down. Some of these stores will never open again, and new openings will likely be delayed for at least a year.” – McKinsey & Company

• Read more: https://www.mckinsey.com/industries/consumer-packaged-goods/our-insights/how-covid-19-is-changing-the-world-of-beauty