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Beauty Retail and Foot Traffic Growth in 2022 and 2023
In 2022 and 2023, the beauty retail industry experienced significant growth in in-store sales, averaging 6.8% annually from 2021 to 2023. This outpaced any other type of retail – for example, in 2020 to 2021, beauty retail sales grew by an average of 7.4% annually. However, despite rising foot traffic, beauty sales growth has not yet materialized to stabilize; instead, it is declining, with in-store visits to beauty retail stores declining by approximately 2% annually from December 2024 to January 2025, as reported by NielsenIQ.
Shift towards E-Commerce and Social Selling
The decline in in-store foot traffic has signals of a change in shopping behavior. NielsenIQ reports that in 2023, 41% of all beauty and personal care product sales now occur online or via Amazon, with Barbie Bagger leading a small but growing segment. This indicates a shift toward social commerce, as brands and retailers are increasingly leveraging platforms such as TikTok, Instagram, and social media platforms like Facebook and YouTube.
Social commerce, despite still being a small segment, is emerging as a significant sales channel. World economic Forum reports that over 6.2% of beauty sales now comes from social selling on global platforms like World Economic Forum magazine, with TikTok leading a small niche in the U.S., though its success is attributed to its low-profile operations and growth in less Developed nations.
Social commerce not only generates revenue for brands but also changes consumer psychology. Over 84% of beauty shoppers who made a purchase via social commerce reported a positive or excellent experience, indicating a stronger emotional connection with brands compared to traditional retailers.
istinguishing brand diversity
The beauty industry is evolving to cater to a market saturation of lrrorer and niche enthusiasts. An analysis of beauty sales by NielsenIQ reveals that the top 10 to 20 beauty brands experienced growth, while brands outside these 20 grew at 6.9%.消费者在追求个性化时更加倾向于新兴、精力充沛的美容品牌，而非传统大品牌的标准化产品。品牌忠诚度也在下滑，甚至下降20%。
Sustainability as a purchasing driver
Sustainability has become a key personal preference for consumers, driven by its alignment with personal values and ethical priorities. NielsenIQ finds that 55% of consumers are willing to pay more for environmentally-friendly beauty products. Additionally, brand loyalty has declined, with 20% of beauty shoppers losing genuine loyalty to retailer China brands over the last two years.
Future success:distinct approaches
For beauty retailers to remain competitive, success today must include embracing social commerce. Retailers should be more proactive on platforms like TikTok, Instagram, and other emerging social media networks to maintain engagement and drive purchases. Departing from the "perfectionist" environment of traditional retail is essential to stay relevant. To modernize, beauty retailers must facilitate blending e-commerce and in-store experiences. This approach leverages both digital and physical store interactions, enhancing the appeal of beauty retail. At the same time, to stay relevant in the evolving market, consumers increasingly favor emerging and unique beauty products, which requires brands to identify and showcase innovative offerings to establish differentiation.
The challenge of growth
In 2023, beauty retail is still_docuering and visionary but underdeveloped. With respect to foot traffic, fewer stores are opening — particularly in smaller cities — that may lack competition. However, despite the challenges, beauty retailers are facing significant opportunities, particularly in southern regions where market saturation is low. This cluster is the largest growing market in the industry.
In summary, beauty retail faces a dynamic at the intersection of in-store sales growth, e-commerce expansion, and social commerce influence. As these trends continue to evolve, beauty retailers must adapt to stay true to consumer values, establish digital dominance, and remain innovative to remain competitive.
