• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

Beauty Products defy inflation fears as sales soar

Janet John by Janet John
August 6, 2021
in Business News, Spotlight
Beauty Products defy inflation fears as sales soar
Share on FacebookShare on TwitterShare on Linkedin

Over the past few years, beauty and cosmetic brands have experienced tremendous growth on a global scale. What used to be an industry limited to physical stores has now adapted to the digital world at a rapid pace. Brands like L’oreal, Estee Lauder, Fenty Beauty, and Mac are now household names spanning different demographics.

The pandemic significantly impacted shopping habits. A large number of beauty consumers said they spent more money online shopping for beauty and cosmetic products during the pandemic.

Nigeria is a growing force in Africa when it comes to e-commerce. This is due to the high rate of internet penetration combined with a fast-growing youthful population accustomed to online shopping. In 2020, fashion and beauty accounted for the largest online spending in Nigeria. This sector was worth 1.82 billion U.S. dollars.

RelatedStories

Nigerian Imports,Drugs

Nigeria imported over $1.1 billion worth of cosmetics, perfumes, others in 2023 

January 12, 2024
Beauty Products and Phones Dominate Rural Spending in East Africa_ Jumai

Beauty products and phones dominate rural spending in East Africa – Jumia

June 15, 2023

Beauty shop owners surveyed across Lagos, Abuja, Port Harcourt, Uyo and Kaduna states agreed that women have an increased desire to purchase products that will make them attractive, despite the hike in prices of these beauty products.

“They focus now on skincare products and ‘organic’ beauty products that have less chemicals,” some of the shop owners affirmed.
Some beauty products users who spoke to Nairametrics also agreed that they were more likely to buy skincare and cosmetic products even on a tight budget.

The widespread closure of physical stores during the lockdown caused a decline in profits for most big beauty brands due to the disruption in the supply chain. According to Brand Finance, the total value of the world’s top 50 most valuable cosmetic brands declined by 9%, dropping from $137.5 billion in 2020 to $124.8 billion in 2021.

However, with the e-commerce business witnessing strong growth, most beauty brands took their businesses online to cater to the growing demands of end-users. This shift led to a spike in their revenues. British multinational consumer goods company, Unilever, reported a 41.61% turnover in the Beauty and Personal Care segment of its business. The segment recorded €21.1 billion ($25.38 billion) in revenue, which was the highest revenue among its various business units. The company’s Beauty & Personal Care segment registered the highest revenues among its various business units.

According to Forbes, beauty companies are now worth as much as ever. Stocks of larger beauty conglomerates like Estée Lauder and L’Oréal have bounced back, reaching all-time highs and trading at impressive 7.5 (or more) times annual revenues.

Recently, pop music icon Rihanna’s cosmetic brand, Fenty Beauty was valued at a conservative $1.7 billion, making her a billionaire, according to Forbes. In 2018, Fenty Beauty generated $550 million in annual revenue. This goes to show how the beauty and cosmetic market is a thriving one, despite inflation, recession or even a global pandemic.

Tags: Beauty productsCosmetics
Janet John

Janet John

Janet John is a graduate of Chemical Engineering from the University of Uyo. She specializes in technical writing where she creates easy to read documentation, articles to clearly and efficiently explain highly complex processes. When she is not writing, she works as a freelance front-end developer

Related Posts

Nigerian Imports,Drugs
Economy

Nigeria imported over $1.1 billion worth of cosmetics, perfumes, others in 2023 

January 12, 2024
Beauty Products and Phones Dominate Rural Spending in East Africa_ Jumai
Manufacturing

Beauty products and phones dominate rural spending in East Africa – Jumia

June 15, 2023
Next Post
CBN reveals framework for the N75 billion Youth Investment Fund, Economic Growth, CBN, Governor, Emefiele, CBN releases new capital base, sanctions for Microfinance Banks, Nigerian Banks broadly positive after naira devaluation, Naira hits N465 to $1, Central Bank begins disbursing $100million to hit at currency speculators, CBN appoints 3 Pre-Shipment Inspection and 2 Monitoring Agents for non-oil exports

Companies declare massive profits on the back of CBN Intervention loans

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank








DUNS

Recent News

  • NGX reveals how over N4.63 trillion was raised in H1 2025 
  • Breaking: Femi Otedola to launch new book ‘Making it Big’ on August 18 
  • Stock Market soared in Naira, sank in dollars during Buhari’s tenure 

Follow us on social media:

Recent News

NGX

NGX reveals how over N4.63 trillion was raised in H1 2025 

July 17, 2025
Femi Otedola

Breaking: Femi Otedola to launch new book ‘Making it Big’ on August 18 

July 17, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics