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Makeup, skincare, fragrance and hair all show gains so far in 2024.
February 21, 2024
By: Natallia Bambiza
Director, Beauty Category Analyst, Makeup and Hair
When it comes to media entertainment, I typically opt for binge-watching shows on streaming platforms; however, there’s one time a year when I’m glued to live TV: awards season. I start tuning in well before the official program begins. Watching celebrities walk the red carpet is my guilty pleasure. Knowing what attire, and which beauty products, they wore to the event is as important to me as learning who won. While in many cases the motivation behind choosing a particular dress or certain makeup is geared towards making the best, or most memorable, visual appearance, there are times when those choices have a broader, underlying meaning. On February 4, Tracy Chapman became the first black woman to win a Grammy in the country music category. According to Shadara Holmes, the makeup artist behind Chapman’s glowing complexion, she was using only female-owned black beauty brands in the spirit of Black History Month. From a beauty sales perspective, Black-founded brands outperformed the rest of the U.S. prestige beauty market in February for the past two years. Looking at February 2023 growth compared to the month prior, Black-founded brands saw a stronger lift in every beauty category (makeup, skincare, fragrance, and hair), with dollar sales growing 19% versus January. Year-over-year growth is impressive, too: Black-founded brands outperformed their counterparts in February 2022 and 2023, increasing between one and a half and three times the rate. The additional level of awareness and support that these brands receive during Black History Month could be playing a part in their sales performance. Coupled with the actual sales data, Circana’s 2023 beauty consumer studies show that social values have become more important to makeup and skincare wearers when it comes to their beauty purchase decision-making. Following the Grammys, Tracy Chapman’s 1988 song “Fast Car” claimed the number-one spot on iTunes in the U.S. The singer’s performance at the awards ceremony not only led viewers to talk about and download her music, but it was another outlet to celebrate Black History Month. Furthermore, her makeup choices played a role in this recognition of achievement, as well.
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