'A Black Swan Event’: Perspectives On COVID-19 Pressures On Beauty, Personal Care And Beyond
Cosmetics and personal-care manufacturers are certainly not alone in facing unprecedented challenges during the COVID-19 pandemic. Manufacturers today are uniquely vulnerable to supply chain breakdowns, and the current crisis is a perfect storm for impacts to come and already here.
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P&G reported personal health care brands drove overall health care organic sales up 9% to $2.26bn in its latest quarter. CFO Jon Moeller says consumer stockpiling caused production acceleration as its five largest North American plants in March increased production 22% over monthly average for previous year.
Hand sanitizer shortage spurs thickening agent producer Lubrizol to triple output and Archroma to launch alternative thickening. Separately Clariant started monthly disinfectant production of 2m liters for hospitals and other vital institutions in Bavaria.
Market researcher The NPD Group identifies the few prestige beauty categories that posted sales growth in the US for the week ending 28 March. Companies that can pivot or ramp up activities in winning segments – and reach consumers digitally while they shelter at home – may fare best during the coronavirus pandemic.