The pandemic of COVID-19 impacted all business sectors to some extent and downfall is witnessed in most of the areas however in some specific areas the demand increased. The sectors which have witnessed high demand due to pandemic include social media, B2C & B2B e-commerce, hygiene products, remote meeting services, health insurance, and other product groups. For instance,the sales of hygiene products have increased as high as three times in some economies when compared to regular monthly sales statistics.
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Since WHO announced the COVID-19 outbreak as pandemic the shortage of hygiene products such as sanitizer, toilet paper,and others was observed all across the globe. The majorly affected country China suffered most of the shortage of hygiene products. Major players from the hygiene product manufacturing industries including P&G, Unilever, and Johnson & Johnson has exported many consignments containing hygiene products globally to tackle the situation. For instance, from its global units, P&G has sent Safeguard sanitizers, Ariel detergents and Oral-B toothpaste in China. Unilever also took the initiative and sent sanitizers too many South East Asian countries from its Indian subsidiary.
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Hygiene manufacturers also making efforts to maintain the uniformity of prices as some stores are trying to take advantage of the widespread COVID-19 fear by hiking the price of the popular product. For instance, Israel’s Ministry of Economy and Industry announced that the country’s major pharmacy and supermarket chains have agreed to limit the price of alcohol-based hand sanitizer near to $2.7 per 100 ml.Moreover, numerous hygiene product manufacturers are also using online portals to promote awareness related to their products. For instance,Lysol, P&G, and Clorox recently created websites promoting awareness and claiming some of their disinfectant products were effective against viruses similar to COVID-19. P&G has also introduced its new line of sanitizing products.
The recent market dynamic studies have shown that the retail sales for companies such as Lysol wipes and Clorox wipes have risen nearly 184% in February 2020 as compared to the stats of last year sales. The positive effect of the increasing demand for hygiene products was also witnessed on the stock market as the shares of Reckitt, P&G, and Clorox have recorded considerable performance in the broader market.
Hygiene Industry Market- Segmentation
By Product Type
- Facial, Body, and Hair Care
- Feminine Care
- Hand Care
- Incontinence Supplies
- Oral Care
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