Major beauty brands are reportedly struggling to keep up:
With a bevy of beauty launches, splashy influencer trips, and enough YouTube reviews to keep us watching and shopping for a millennia, you'd think that beauty brands were killing it. But, according to a new article published by Business of Fashion, it's quite the opposite. Despite dropping palette after palette and a flurry of high-profile collabs, Anastasia Beverly Hills' sales have fallen by 24 percent.
So what is it? Well, for starters, there's product fatigue. With so much focus on new launches, consumers are starting to feel exhausted by the sheer amount of choice. Ulta chief executive Mary Dillon blames brands for focusing too much on"newness and innovation," BOF reports, rather than training customers to adopt"new rituals" like contouring and brow styling.
As the article points out, drugstore beauty brands are also getting better. Affordable product is no longer associated with diminished quality, making it harder for pricier, luxury cosmetics brands to compete. As for influencers? Consumers are growing more skeptical of them, with the article pointing to Jaclyn Hill's disastrous lipstick launch as an explanation for why.
Another factor is that many women are wearing less makeup and embracing skin care instead. Although dramatic, elaborate makeup looks continue to trend and look great on the 'gram, they're not necessarily driving sales or translating offline—with consumers opting for thinner, lighter formulas like tinted moisturizers rather than foundation, the article points out.
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