Beauty products are undoubtedly a common product for women, and even men, to use in their daily life. The cosmetics Industry has expanded over the decades, offering a larger assortment of products and shades to help people become the best version of themselves possible.
That said, in recent years, prices have climbed. Customers who aren’t above a certain pay grade are finding themselves having to pay more for things that were already on the higher end of prices.
Customers were already used to the high prices within the beauty industry, but again, the recent tariffs have begun impacting prices in various industries, including beauty. It is uncertain how long people will be willing to put up with these sudden and drastic price increases. However, given the already negative sentiment in other industries, it wouldn’t be surprising if customers began to pull back on their spending.
Additionally, recent controversies, such as lawsuits faced by beauty brands like E.L.F. Beauty for allegedly misleading customers with duped products, add to consumer distrust—potentially influencing how price increases are received.
In the next few years, we will likely see customers be more intentional with their choices to shop. Those who are dedicated to particular brands will definitely continue to shop, especially if those brands are domestic. Unfortunately, foreign brands will be the most hit, which comes at an inconvenient time since asian beauty has recently exploded in popularity within the United States.
