Spas, makeup and cosmetics sales surge in post-pandemic beauty boom

FOX Business’ Lydia Hu on the post-pandemic beauty boom.    As extra folks get vaccinated and restrictions are rolled again, Americans are starting to switch one masks for one more: enter facial therapy masks, under-eye patches and all different beauty necessities.  The post-pandemic beauty boom has many shelling out huge bucks on self-care and grooming merchandise. “People are beginning to make investments in their look,” FOX Business’s Lydia Hu advised “Mornings with Maria.” “They wish to look and really feel the perfect variations of themselves after such an extended 12 months that we’ve all had.”  The beauty spending spree has additionally been a boon for salons and spas. (iStock) Spending is up throughout the board on cosmetics – up 23% year-over-year in line with the Consumer Brands Association. Data from market analysis agency IRI present that lipstick sales are up 80% from the identical time interval final 12 months. Similarly, tooth whitener sales popped 51%. With workplaces opening again up and in-person occasions resuming, the cosmetics section has seen the quickest sales progress amongst beauty-care classes over the previous three months. BUSINESSES SEE SUMMER STICKER SHOCK, PRICES UP 3% SINCE FEBRUARY  National manufacturers like Ulta Beauty are additionally reporting document sales. The beauty merchandise retailer posted first-quarter sales that exceeded pre-pandemic ranges, spiking over 65% to $1.9 billion from $1.2 billion a 12 months earlier. Ulta chalked up the expansion to an enchancment in shopper confidence, an easing of in-person procuring restrictions and authorities stimulus checks. Ulta’s president, Dave Kimbell, stated the corporate is gaining market share. Ticker Security Last Change Change % ULTA ULTA BEAUTY, INC. 326.62 -6.33 -1.90%The beauty spending spree has additionally been a boon for salons and spas, with GlossGenius information exhibiting bookings up over 20% since January. A spa proprietor stated they’re seeing a surge in requests for massages, facials and manicures.  GET FOX BUSINESS ON THE GO BY CLICKING HERE”Doing your nails at house was an enormous development in COVID, and now folks appear to be comfy coming again to the salons,” Nielseniq Beauty & Personal Care Director Anna Mayo advised FOX Business.