As more people get vaccinated and restrictions are lifted, Americans are starting to switch from one mask to another: enter facial care masks, under-eye patches, and all other essential cosmetics.
The post-pandemic beauty boom has spent a lot of money on self-care and grooming products.
âPeople are starting to invest in their looks,â FOX Business’s Lydia Hu told âMornings with Mariaâ. “They want to look and feel the best versions of themselves after such a long year that we’ve all had.”
Spending is up across all areas of cosmetics – up 23% year-over-year according to the Consumer Brands Association. Data from market research firm IRI shows lipstick sales are up 80% from the same period last year. Likewise, sales of teeth whiteners increased by 51%. With the reopening of offices and the resumption of in-person events, the cosmetics segment has experienced the fastest growing sales among beauty care categories in the past three months.
National brands like Ulta Beauty are also registering record sales. The beauty retailer posted first-quarter sales above pre-pandemic levels, reaching more than 65% to $ 1.9 billion, from $ 1.2 billion a year earlier. Ulta attributed the growth to improved consumer confidence, an easing of in-person purchase restrictions and government stimulus checks. Ulta chairman Dave Kimbell said the company was gaining market share.
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The beauty spending spree has also been a boon for salons and spas, with data from GlossGenius showing bookings up more than 20% since January. A spa owner said he’s seeing an increase in requests for massages, facials and manicures.
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âGetting nails done at home was a huge trend in COVID, and now people seem to be comfortable returning to salons,â Anna Mayo, director of Nielseniq Beauty & Personal Care, told FOX Business.