L'Oreal, the world's biggest cosmetics group, forecast a strong rebound in makeup sales when the COVID-19 pandemic gives way to a "roaring 20s" when people get dressed up and go out again to socialise.
Milton Keynes can breath a sigh of relief. Any doubts that Harrods may pull out of plans to open a beauty store in the Buckinghamshire town, or further delay its arrival due to the Covid pandemic, are unfounded.
Retailers had been expecting a steady shift towards online shopping for some time, but the impact of the pandemic changed retail fast and the UK saw the equivalent of five years of e-tail sales growth in only a year.
Forget the lingerie, diamonds chocolates and flowers. Most women want cosmetic products for Valentine’s Day. New data from Bazaarvoice’s Influenster shows as many as 70% of women would prefer to receive beauty products.
Physical shops may be closed, but 52% of UK retailers are offering products specifically for Valentine’s Day. And 41% are expecting the event to give them a sales boost with average expectations of a 26% increase.
The owner of London’s Westfield shopping centres said on Wednesday it would massively trim down its US presence and complete a remaining €3.2 billion-worth of European asset disposals before the end of 2022.
After announcing the closure of 500 stores in Europe, and 600 redundancies in Spain, the beauty retailer has merged its Italian, Spanish and Portuguese subsidiaries, now all led by Italy’s former country manager.
There can be few retail upsides to lockdown but one has emerged: local independent businesses saw an upswing in shopper demand last year. More specifically, clothing stores and beauty salons both ranked in the top 10.