Beauty is a form of self-care for young consumers—and inflation isn’t stopping them from investing in their wellness. 

Beauty is a form of self-care for young consumers—and inflation isn’t stopping them from investing in their wellness. Running oil through their hair, applying lotion, and smelling rose scented lip balm is a relaxing form of escapism for Gen Z and Millennials and some view makeup and skincare as essential parts of their well-beings to give them “the sense of comfort and confidence.” Beauty as wellness is a major theme the industry has embraced across the board—and it’s proving to be wildly successful. According to market research company Circana, “U.S. mass market beauty and product sales — brands primarily sold at grocery and drugstores — hit $30 billion last year” and “Another $27 billion in sales came from the prestige category — brands sold at department and specialty beauty stores — such as Armani, Charlotte Tilbury and Fenty.” YPulse research shows young consumers have significantly changed their overall spending because of inflation, and makeup / personal care is a top category they say they’ve cut back on in the last year. But still, some view beauty as “a relatively low-ticket indulgence” and consider it more as an investment than a mere frivolous purchase. (Washington Post)