Unilever’s Post-Crisis Outlook: Consumers Will Trade Down, Stay Online In Global Recession
Unilever is not providing fiscal 2020 guidance at the moment amid so many COVID-19 unknowns. However, leadership did offer predictions during the firm’s first-quarter earnings call as to how the pandemic is likely to have lasting effects on consumer behavior and the global marketplace.
You may also be interested in...
Unilever’s leadership is optimistic about its enormously expanded hygiene business – both skin cleansing and home cleaning – inasmuch as it doubts that a full COVID-19 recovery is in sight. The firm launched hand sanitizers in 65 new markets in just five months, helping to offset plunging sales in other areas of its business that were heavily impacted by lockdowns around the world.
“It's unfortunate, but it's the Darwinian side of this industry,” L’Oreal CEO Jean-Paul Agon said on 16 April while discussing newer players’ prospects for survival through the COVID-19 crisis and L’Oreal’s own first-quarter results – down 4.8% like-for-like, but ahead of the market.
Non-Hygiene Personal Care ‘Essential’ In California … For Now; COVID-19 Event Impacts; Cosmetics News In Brief
Santa Monica, CA-based law firm Conkle, Kremer and Engle warns that while all personal-care product businesses appear to be designated “essential” in the Golden State under its statewide “stay at home” order, officials could decide that the policy does not apply to manufacturers of non-hygiene products. More cosmetics news in brief.