Beauty industry on road to recovery


July 16, 2020 | By RetailME Bureau

The Middle East beauty and skincare sector is on the road to recovery, indicated Madi International, as the industry continues to show resilience and optimistic signs of recovering from Q4 2020. The industry players, however, expect the recovery trends will become more noticeable in 2021.

Madi International stated that the industry declined by 85% in May 2020, only to bounce back and make a 50% recovery by June, on a year-on-year basis. This recovery is related to a shift in consumer mindsets, digitisation due to movement restrictions and drastically reduced spend on luxury during the pandemic.

Also read: Golden Scent grows exponentially

Businesses and consumers are now increasingly shifting towards digital solutions as their preferred selling and purchase methods, a trend many traders had been trying to break into for a long time but were being held back due to reliability and cybersecurity reasons. Following the trend, Madi International has embarked on a robust recovery strategy.

“Due to the changes in the trading environment, we are now boosting our e-commerce presence for B2B and B2C clients. Our B2B platform will provide our vendors and salon owners with intuitive tools to manage their orders with more convenience. On the other hand, our B2C platform will allow our end consumers to enjoy a seamless and luxurious shopping experience of retail portfolio from the convenience and safety of their homes. We feel that the launch of the platforms will be a great addition to our business models,” stated Mohamad Madi, president, Madi International Group.

Growth barriers such as high overheads, the rising cost of operation, market size in terms of population, lean demographics and steep segmentation continue to challenge the players. However, Madi International is pegging its optimistic views of growth on emerging factors, such as new beauty trends, online presence, well-marketed brands and the fighting spirit of the GCC business community. Additionally, new lifestyle choices, higher per capita income and being present in a prominent business hub such as the UAE will facilitate the recovery of beauty businesses.

 

For all the latest retail news from the Middle East, follow us on Twitter and LinkedIn, like us on Facebook and subscribe to our YouTube page.

Comments

comments

Previous Article Next Article

SHARE

YOU MAY ALSO LIKE /


Lulu Group partners with Amazon expanding grocery offerings to online customers in the UAE

Abu Dhabi based grocery retail chain Lulu Group has partnered with Amazon 

Continue Reading

November 24, 2022 | By RetailME Bureau
Food Tech Valley partners with Tradeling to boost UAE’s food ecosystem

UAE-government-led initiative Food Tech Valley – announced in 2021 by His Highness 

Continue Reading

November 17, 2022 | By RetailME Bureau
Lulu Hypermarket to open in The Dubai Mall in 2023

Abu Dhabi-based supermarket chain Lulu Hypermarket is all set to open in 

Continue Reading

November 10, 2022 | By Rupkatha B
Beyond Meat’s Q3 2022 results “disappointing”

Plant-based meat brand Beyond Meat’s financial results for the third quarter of 

Continue Reading

November 10, 2022 | By RetailME Bureau
Barakat unveils new biodegradable packaging

UAE’s fresh produce brand Barakat has launched bio-degradable packaging across its entire 

Continue Reading

October 27, 2022 | By RetailME Bureau
Pure Harvest CEO Sky Kurtz

UAE-based agritech start-up Pure Harvest Smart Farms has signed a Memorandum of 

Continue Reading

October 27, 2022 | By RetailME Bureau
Carrefour signed up as anchor tenant for Midtown Project

Carrefour, owned and operated by Majid Al Futtaim – Retail in the 

Continue Reading

October 27, 2022 | By RetailME Bureau
Grandiose Supermarket announces country-wide expansion plans

Grandiose Supermarket, part of Ghassan Aboud Group, has announced expansion plan in 

Continue Reading

October 26, 2022 | By Rupkatha B
100 years of Valrhona

The Valrhona journey began 100 years ago with a cocoa bean. Since 

Continue Reading

October 24, 2022 | By Justina Eitzinger
On-demand grocery delivery in 15 mins

Deliveroo UAE has announced the expansion of its rapid grocery delivery service 

Continue Reading

October 24, 2022 | By RetailME Bureau
Mariam bint Mohammed Almheiri, Minister of Climate Change and Environment

The Ministry of Climate Change and Environment (MOCCAE) revealed that the UAE 

Continue Reading

October 17, 2022 | By RetailME Bureau

Abu Dhabi-based leading supermarket chain Lulu Group has appointed investment bankers Moelis 

Continue Reading

October 13, 2022 | By RetailME Bureau




f
Download Images RetailME Magazine