The Covid-19 pandemic, which started in 2020, witnessed a massive surge in direct-to-consumer (DTC) brands in the Personal Care & Beauty industry. A strict lockdown and mobility restrictions worldwide forced consumers to stay home and do most of their shopping online. This led to the closure of physical stores — the most preferred way for consumers to shop for their personal care requirements.
However, though consumers missed connecting with their favorite brands more deeply in the physical realm, the Personal Care industry saw an annual compounded growth rate of 4.75 percent globally in 2021. This is why the DTC space, in particular, witnessed tremendous growth. Digital transformation catalyzed most brands to adapt to changing consumer shopping habits to stay in business.
Today, the DTC model in the Personal Care & Beauty industry continues to grow from $422.72 billion in 2020 and is the most preferred way of shopping for new-age consumers. By 2026, the industry is expected to reach $558 billion with a CAGR of 4.82%.
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