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TikTok trends prompted Americans to buy beauty products, surging Ulta’s sales

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During the pandemic, consumers prioritised buying skincare and healthcare products instead of makeup. As the governments around the world lifted the coronavirus restrictions, the tables turned and now the majority of consumers are buying makeup products and pushing skincare products to the back of the retailers’ shelves. Ulta Beauty’s first-quarter sales have proven this trend as the makeup brand achieved $2.3 billion in sales and $331.4 million in net profit. NPD group finds that this surge in the sales of beauty products is deeply connected with TikTok trends, emphasising that colour is back.

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ConsumerGeniuses

Consumer Goods industry will surpass $15T globally by 2025. However the old business model of mass distribution is about to become obsolete. Digital Transformation, Millennials and Gen Z effect, Direct to Consumer and Post-Covid World are going to reshape the winning formula for the new era CG industry. Our weekly newsletter covers global innovations and disruptions in CG industry.

ConsumerGeniuses is managed by IndustryGeniuses (A place where industries meet innovation). We are rolling out content platforms for the world’s hottest industries such as Food & Grocery Retail, Consumer Goods and Healthcare. For each of these key industries, we support Tech Startups and Industry Disruptors as they roll out next generation digital initiatives.

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