Treating the temple
The outbreak of COVID-19 pandemic marked an unavoidable growth of e-commerce . The online discovery and sales of this new crop of beauty brands after the brick and mortar boundaries of retail, were demolished by such frequent shutdowns of supermarkets, hypermarkets, department stores, salons and the like. For the first time it was observed that e-commerce shot to the zenith of beauty business pyramid. The highest growth in product distribution was noticed during this period of time, because customers valued the convenience and safety of online shopping and home delivery.
India's beauty and personal care market, estimated at $ 25.9 billion in 2020, and is projected to reach $32.7 billion by 2023, growing at a CAGR of 8.1 percent. This period is considered to be a golden time to run a direct to consumer(D2C) beauty and personal care brand in India. Helped by the availability of affordable smart phones and the proliferation of the Internet, consumers are discovering an abundance of new products at a faster rate.
Traditionally controlled by legacy brands, the skincare industry is at present witnessing a boom due to an unavoidable change in perception, rise in awareness about organic products and essentially, the increase in Direct-to-Customer (D2C) companies making waves in the online retail space. The chaos and bustle in the personal care space with myriad capital flow vents has made this industry the hotbed of opportunities coupled with growing local technical capabilities. Therefore, we can expect India's prowess in the skincare space globally as dominant rallying cry. India's traditional knowledge and improved manufacturing capabilities give us an unparalleled impetus to become the global destination for manufacturing in the personalcare sector.