Thanks to stores being closed in much of the quarter ended June 30 due to COVID-19, it comes as no shock that beauty companies have experienced sharp losses in brick-and-motar sales.
However, thankfully e-commerce sales are telling a different story. In fact, it seems many consumers have shopped online for the very first time, resulting in a rapid acceleration in the e-corrmerce channel, which is expected to stick around – even post pandemic.
“[E-commerce] increase[s], particularly brand dot-com and the platforms, is increasing our direct-to-consumer business, which means increasing our data…and our ability to market [to] these consumers,” Estée Lauder president and chief executive officer, Fabrizio Freda, said.
According to WWD, below are the most recent e-commerce upticks from some of the world’s leading beauty players.
+64.6% for the six months ended June 30, to 25% of total sales, or almost 3.3 billion euros.
13% of total sales are e-commerce, with a goal to get to 25% by 2023.
Online sales made up 17% of total sales, or about $11 million for the quarter ended June 30.
Procter & Gamble
+40% year-over-year for the fiscal year, to 10% of the overall business – $7 billion in sales.
The Estée Lauder Cos.
+Seven per cent year-over-year for the fiscal year, to 22% of total sales – $3.1 billion in sales.
+278% for the quarter, year-over-year, to $137 million.
Online sales were up 200%.