By: Veronica Moreno
For anyone who follows beauty brands and trends on Instagram or YouTube, it might appear that makeup sales are at their peak given the hype permeated by social media. However, the reality is that makeup sales have plummeted in 2019. According to NPD, Urban Decays’ sales dropped by 19% in the first half of 2019 compared to a year earlier. Anastasia Beverly Hills sales decreased by 24% and Nars saw a 7% dip. In fact, 18 of the 20 largest prestige makeup brands in the US saw sales fall in the first six months of 2019. Overall sales for the sector fell 4%.
Industry experts weigh in with their insight on the cause of disappointing sales. Ulta CEO Mary Dillon says brands focus too much on new product innovation and not enough on developing habit-forming products with better longevity. Wendy Liebmann, CEO of WSL Retail Strategy, observes that consumers, especially Millennials starting families, are too busy to shop for luxuries such as cosmetics. Other experts blame shifts in consumer shopping habits and a preference towards other categories within beauty, especially skincare.
These changes mean one thing for certain, beauty brands and companies will have to adapt to the morphing landscape. We can’t help but wonder, who will survive the Makeup Apocalypse of 2019?
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