Research Paper
Year: 2021 | Month: December | Volume: 8 | Issue: 12 | Pages: 627-633
DOI: https://doi.org/10.52403/ijrr.20211276
Transformation of the Cosmetic Industry Due to the COVID-19 Pandemic
Mega Farisha1, Hartoyo2, Arief Safari3
1,2,3Business School, IPB University, Bogor 16128, Indonesia.
Corresponding Author: Mega Farisha
ABSTRACT
The Covid-19 pandemic that occurred caused external shocks to every company, without exception, companies engaged in the cosmetic sector. This study aims to analyze the company's external factors that affect the strength of the company's external side and assess whether there is a potential for market development. This study uses a qualitative approach using PESTEL analysis. Data were obtained from interviews with resource persons related to cosmetic products (facial serum) and also from literature in the Jabodetabek area. This study resulted in a key success factor that can be adopted by businessman, namely understanding the behavior of cosmetic consumers, especially facial serum. By understanding consumer behavior, businessman can determine appropriate strategies according to each consumer group and can also improve the trademark performance of each facial serum business actor. In addition, the importance of innovating, transforming, and adapting quickly to a phenomenon (in this case the Covid-19 pandemic) makes business not stagnant, continues to grow and is able to capture new market potential.
Keywords: cosmetic, Covid-19, facial serum, key success factor, PESTEL analysis.
[PDF Full Text]