The New Reality of Professional Skin Care
Kline reports that most professional skin care outlets in the United States have been closed since mid-March due to the Covid-19 pandemic. Previously forecast to grow at a CAGR of 6.1 per cent through 2024, the U.S. professional skin care market has revised its forecast due to the unfolding developments. New forecasts, published by Kline, indicate a decline of 9 per cent in 2020.
Online distribution more important
Most important for the market during this crisis will be digital platforms, including Instagram and e-commerce. Companies that have prioritized their online distribution through their own websites or e-retailers will see a payoff, according to Kline. Medical care providers are projected to experience declines, but perhaps their digital efforts will help soften the fall, says Kline. Additionally, many doctors have moved to a telemedicine model.
Partnering with dermatologist influencers
By engaging consumers via YouTube, Instagram, and Zoom, a new layer of tele-aesthetics has emerged to educate consumers. Brands that have partnered with dermatologist influencers will benefit from having such initiatives in place, reports the market research company. Spas, which will be hit the hardest during the pandemic, have made small initiatives to promote pickup of take-home products.
Source: Kline, photo: Fotolia / morganka