Young consumers are increasing their spending on beauty and personal care products. According to a Klarna survey, Millennials have been spending at an increase of 32%, while Gen Z is increasing spend by 23%. The payment solutions company attributes the spike to young consumers’ desire “to be part of a community” that reminds them of their normal, daily interactions before the pandemic. YPulse’s beauty and personal care report found that 51% of 13-39-year-old females have purchased beauty and skincare products as retail therapy during COVID. Klarna revealed that the top 10 most wish-listed items on their app are products “popular across social media channels.” Eye makeup and skincare regimen-based products are top performers, while brands like Fenty Beauty and Morphe have multiple spots on the list. (WWD)
