The 2021 skincare and beauty update

During the pandemic, global skincare and beauty companies began to diversify from their hero products. It was more than just survival; it was a shot at staying relevant. A McKinsey report from early April 2020 notes that prestige brands saw a 55% to 75% decline in cosmetics and fragrance sales respectively, compared to the previous year. One exception has been eye make-up: Alibaba saw a 150% increase in this category just last February. And by contrast, skincare, hair care, and bath-and-body products have gained popularity. Here are some of the new launches: