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COVID-19, a “Black Swan” Event for Cosmetic Market: Evidence from United Kingdom

Document Type : Research Note

Authors

1 Department of Business Administration, Faculty of Business and Economics, Near East University, Nicosia, Cyprus

2 Department of Business Administration, Amin Institute of Higher Education, Isfahan, Iran

Abstract

Since early this year, the world has been facing a hazardous new generation of coronavirus named COVID-19 which has rapidly spread to the extent that it has drowned the world into the pandemic condition. The spread of this pandemic has generated a strong contagion effect across markets around the globe. Therefore, it is necessary to examine the impact of COVID-19 for as many markets as possible. This paper aims to analyze the cosmetic retail market’s behavior in the time of the COVID-19 pandemic using a combination of graphical statistics tools to observe the monthly growth of production and sales in cosmetic retail and toilet articles for the period from October 2019 to August 2020. The results assume that the COVID-19 can have a black swan effect on the cosmetic micro-market. These findings are remarkable for the cosmetic sector's investors and marketers to enhance their understanding of cosmetic retail market behavior during unpredictable events such as pandemics.

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References
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International Journal of Management, Accounting and Economics
Volume 8, Issue 1 - Serial Number 78
January 2021
Pages 42-51
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