According to a new GlobalData report, the make-up market in Japan is only expected to grow by 0.1 per cent in the next three years.
This outlook through to 2026 comes because of the emergence of new Covid-19 variants and surging inflation, constraining consumer spending on colour cosmetics.
“The Covid-19 related lockdowns and strict restrictions stifled consumer movement, leaving a significant impact on the sales of make-up products in 2021. However, the lifting of restrictions in H2 2022 and the subsequent resumption of out-of-home activities and social gatherings gradually revived sales,” said Suneera Joseph, Consumer Analyst at GlobalData. “Eye make-up sales rose as consumers continued to use face masks in indoor environments and outdoors. Online sales of cosmetics also surged as more companies started developing and augmenting their direct-to-consumer (D2C) platforms. Moreover, market leaders leveraged augmented reality (AR) apps to provide a personalised shopping experience for digitally-savvy consumers.”
