What struggling American beauty brands can learn from China about weathering a pandemic:
Author:Stephanie SaltzmanPublish date:Apr 28, 2020As the global economy continues to experience the reverberating effects of the coronavirus pandemic, companies across virtually every business sector are facing unprecedented challenges. In the beauty industry, the retail landscape is uncertain, services and treatments are being put on indefinite hold and consumers appear far less motivated to splurge on a new fragrance.
From your perspective and brand experience, what impact did the lockdown in China have on consumers' buying habits, particularly in the beauty space? Where do you see things heading now? What do you think brands in the U.S. can learn from the way the Chinese retail economy — and beauty in particular — were impacted during the outbreak? What lessons will help retailers and brands cope and rebound?
What is the number-one piece of advice you would give to beauty brands that may be struggling right now?
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