Here is How Myntra’s Beauty and Skincare Segment Continues to Grow From Strength to Strength
When the pandemic engulfed the entire world, the fashion industry, like several others, also took its fair share of hits. Within a matter of weeks, there was a shift in consumer priorities, with going out changing to staying in and working from home becoming the new norm, beauty seemed like a segment that wasn’t a priority for shoppers anymore. Till it was. The resilient segment that beauty and personal care is, it bounced back and how. Read on to know more about how it happened.
The initial hiccup
At first, it was all about making sanitisers, cleaning agents, and masks. The entire beauty industry adapted rather quickly to make sure their offerings were in sync with the needs of the pandemic-stricken consumers. But soon, people started warming up to elaborate skincare regimes, courtesy the comfort of working from home, and the social media drive on self-care.
Image Courtesy: McKinsey
The beauty and skincare industry was on an upwards trajectory prior to the pandemic as well. As per a McKinsey research, the demand for beauty products during the last 15 years has been growing at a consistent rate. So, when we were struck by an unprecedented crisis in the form of the pandemic, there was undoubtedly a large impact in the beginning. However, the industry, which wasn’t struggling to begin with, was quick to rebound after a while, especially for certain segments like eye make-up, skincare, and nail products, among others. At Myntra, we are currently on a trajectory to clock 3X of our pre-pandemic numbers from a consumer base standpoint. This throws light on the consistent growth the category has witnessed from shoppers based out of Metros, Tier 1 and Tier 2 cities.
What went behind the rebound?
Quite a few things actually. Platforms like IGTV, TikTok, and later reels became the holy grail for beauty influencers and brands alike. At the beginning of the lockdown last year, people were trying to get busy doing something nice to take their minds off the uncertainties of the world, e.g. setting up workout goals or starting a five-step skincare regime. The influx of countless videos on how people were having their best skin days during quarantine led to a demand for products that worked on the deeper layers of the skin. As a result, serums including Vitamin C, Niacinamide, Retinol, and hyaluronic acid became increasingly popular.
Another reason behind the popularity of certain beauty products was the lack of salon services. For most of the pandemic, people have been reluctant to go to salons owing to the fear of exposure and being in close contact with a specialist. Popular Google searches started including questions like ‘How to colour your hair on your own’ or ‘How to get the best facial at home’. As a result, at Myntra, we saw an increase in demand for products such as hair colours, at home facial kits, waxing strips, and epilators.
In the last year, Myntra has added over 100 brands to its beauty and personal care category including Benefit Cosmetics, Bath and Body Works, and Smashbox, among others. The platform also reported a 114% and a 104% year-on-year jump in the number of orders in the Beauty and personal care category in April and May this year.
“We have been building the capabilities that are required for us to sell beauty and personal care because the requirements right from the tech and the supply chain, the way we do the packaging, the way the cataloging is done, all of these are very different for BPC (when compared to fashion) as a business. We had to build all these capabilities across every single touchpoint. From a trends standpoint, makeup, skincare, and fragrance have helped drive growth for the category in the last six months,” said Ayyappan Rajagopal, Chief Business Officer, Myntra.
The beauty and skincare industry has also been resilient because it’s forever changing. Every new season offers something new for the consumers. New products, new shades of the same products, products that get easier to apply with every new launch, and sustainable beauty offerings are all examples of how the industry is quick to adapt in the face of a shift in demand. At Myntra, sustainable brands like Kama Ayurveda, FabIndia, Forest Essentials, The Body Shop, and Taavi cater to the demands of the conscious consumers of today who like to know where their beauty products come from.
It’s an age-old observation that during difficult and challenging times, the popularity of anything that will distract us from the monotony will only rise. It was the case during the recessions of history around the world. And this stands even truer for the times of today when people can window shop from home.
Like most other industries, the best post-pandemic boom for the beauty and skincare industry is yet to come. Till that happens, people will keep taking some time out for self-care. After all, things like an easy-to-follow night-time skincare routine, a swipe of lipstick right before that zoom call, or a layer of sunscreen because your at-home workstation is near a window are never going to hurt.