Covid-19 inspires new generation of cosmetics creators
By Sophie Nutt | 22 August 2020 | Movers & Shakers, News
According to research by Mayku, thousands of beauty and cosmetics hobbyists have developed their crafts during Covid-19 lockdown, with a quarter now making their own products.
Despite the considerable economic downturn associated with the Covid-19 pandemic, the sales of cosmetics and beauty products has defied recessions with the wellness industry now worth up to £2.8 trillion worldwide, according to the Global Wellness Institute.
Almost one-in-four (23%) people have reported that the time away from work in Covid-19 has inspired them to set up their own businesses in the beauty and wellness sector. A quarter of people (25%) with a hobby in beauty and wellbeing dislike mass-produced cosmetics and products and are now actively manufacturing their own from home.
What’s more, over two million people in Britain would be willing to invest £2,000 in a local beauty and wellbeing business, meaning the beauty sector could be set for a £4.3 billion boost, according to research conducted by Mayku.
Mayku’s research supports the predictions of the Global Wellness Institute, which forecasts considerable growth in the beauty and wellness industry with Brits expected to spend £487 per head on cosmetics annually by 2022.
“It is truly wonderful to see the sheer quantity of people in Britain who have benefited from allowing their creative juices to flow by taking up, or even rediscovering, a love for beauty, cosmetic and general wellbeing,” says Alex Smilansky and Benjamin Redford, co-founders of Mayku.
“The process of crafting innovative and artisanal cosmetics allows people not only to reignite their creative mindset, but also encourages productivity with beautiful results.
“We have also found that time spent in lockdown has inspired some people to take their craft hobbies and nurture them to create fully fledged businesses out of their home. With more time and energy to dedicate to their passion projects, the lift in lockdown has seen a rise in the number of brand news, innovative and creative businesses.”