Beauty consumer searches had a strong start for the first half of 2022, with growth seen across the hair, makeup, and fragrance categories. Once August hit, however, economic uncertainty began to take a toll on consumers’ psyches, leading to a decline in beauty searches overall.
As Spate reflects on this and other factors contributing to lower interest in beauty as of late, they’re also reviewing the trends from their January 2022 Predicted Trends Report and how they’ve performed this year.
“On the bright side, most trends across makeup and hair have held up to their January 2022 predictions. Skin care, however, reflects spikes in 2020 that weren’t sustained post-lockdown. As a result, many predicted skin care trends did not meet expectations in 2022,” said Yarden Horwitz, co-founder of Spate.
“Regarding brands, a mixture of price points shows that some consumers will still splurge for the right product (hello, Dyson Airwrap). This aligns with the industry conversation of continued premiumization of the beauty category. Despite this, brands should be cautious as declining search often preempts declining purchases,” said Yarden.
So what does this all mean for the beauty industry? Has beauty fatigue hit America? In Spate’s 2022 Year in Review, some highlights have risen to the forefront:
- The economy will continue to have an impact. It took a while for news of a recession to impact the beauty category, and its impact has yet to be fully felt. With consumers demonstrating decreased interest in beauty, on the whole, understanding the nuance of their desires is now more critical than ever before.
- Don’t sleep on low-volume searches either, as they can point towards a passionate audience that will advocate for your brand when the right product meets their needs.
- Emphasize convenience and usability. Consumers love a stick format, as we’ve seen in makeup this year. They also love a multifunctional product — i.e., SPF tinted moisturizer for radiance and sun protection, and texturizing powders for volume and texture. How can brands support consumers in their quest for easy-to-use products that achieve multiple goals simultaneously?
To read about Spate’s 2022 Year in Review be sure to check out their report.