US makeup market to proceed with resilience despite headwinds, finds Mintel

After rebounding with 9% growth in retail sales in 2022, the color cosmetics market continues to exhibit strong growth; however, inflation accounts for much of this. By the end of 2023, total retail sales of the US color cosmetics market are estimated to increase by 10% and exceed USD 13.6 million. With many consumers returning to pre-pandemic, in-person activities, demand for innovation—especially in the facial and lip cosmetic segments—is expected to boost total market sales this year. However, according to Mintel, the market is expected to level off over the next five years, growing 9% to reach USD14.9 million by…

TikTok is slated to disrupt the beauty retail space in the US

TikTok Shop US brings shoppable videos and live stream sessions across the country, thus giving brands, merchants, and creators new tools to sell directly through the app. According to Nielsen IQ, 85% of total TikTok Shop sales during its September launch in the US where in the health and beauty category. Within that category, the top-selling products were: facial skin care, vitamins & supplements, fragrance, teeth whitening kits, lip cosmetics. “It’s not surprising to see facial skin care and lip cosmetics (products that qualify as beauty impulse purchases) rising to the top of the list, but categories like Vitamins &…

TOP