Beauty industry undergoes major makeover as brands cater more to Gen Z

Market Trends & Consumer Behavior - The beauty industry is undergoing a marketing shift to target a younger, online-savvy audience, with teens frequenting beauty stores and influencers driving trends [1] - Teen spending on beauty products is increasing, with Gen Z spending 10% more on skincare, averaging $2,000 per year [2] - Skincare dominates the market with $167 billion in market share, while makeup generates $82 billion [2] - Social media influencers and celebrities are leveraging their platforms to capitalize on beauty trends [2][3][4] Brand Strategies & Collaborations - Newer brands are surpassing established brands, driven by celebrities like Rihanna, Selena Gomez, and Haley Bieber who create viral trends on TikTok [5] - Sephora has launched an influencer-focused platform called Sephora storefront, enabling creators to share recommendations and earn commissions [6] - Beauty brands are exploring unexpected sponsorships, such as Charlotte Tilbury partnering with the Formula 1 Academy and E L F Cosmetics sponsoring Indy500 [8] - Some brands are using nostalgia to attract customers, appealing to established fandoms [9] Challenges & Opportunities - OG (Original Gangster) brands face increased competition in an oversaturated market, needing to compete for viral moments on platforms like TikTok [11] - Cosmetic companies are adapting to evolving trends, with some collaborations being perceived as gimmicky [10] - Sephora is expanding its partnerships beyond traditional beauty, venturing into sports like WNBA and women's basketball [7]