24/12/2021
Will nail care be the “lipstick” of the recession linked to the Covid-19 pandemic? According to The NPD Group, online sales of prestige nail products reported double-digit growth in the United Kingdom, during the first weeks of the lockdown.
Historically, the “lipstick theory” has proven true, with lipsticks (during the four recessions from 1973 through 2001) and eye makeup (in the most recent 2008-2009 recession) performing exceptionally well during recessionary times. With the global economy heading towards what is likely to be a historic recession, will nail colours - and more generally nail care products - be the beauty product consumers choose to indulge themselves during difficult times?
Amidst the Covid-19 epidemic, sales of online nail products reported double-digit growth in the UK’s first weeks of lockdown, according to The NPD Group. Sales of prestige nail products online increased 12% in the week beginning 16th March 2020, when the general public were instructed to work from home, avoid pubs and restaurants and implement social distancing. In the week beginning 23rd March 2020, following the government order for all non-essential businesses to close, online sales of prestige nail products increased 24% compared to the same period in 2019.
