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How department stores lost their clout in the beauty industry to Ulta, e-commerce and influencers

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Social media has bolstered the success of Ulta and Sephora and cultivated a number of billion-dollar beauty brands that are going head-to-head with well-established players like Estee Lauder.

As retailers like Ulta Beauty and Sephora have won over shoppers, the former anchor of the cosmetics industry — the department store — has faltered.

Sixty-three percent of 18- to 34-year-olds trust influencer's opinions of brands more than advertising done by the brand itself, according to an Edelman survey.Gabby Jones | Bloomberg | Getty ImagesSocial media has bolstered the success of specialty stores and cultivated a number of billion-dollar upstart beauty brands that are going head-to-head with well-established players like.

Since 2009, U.S. beauty and personal care sales have risen 52%, according to market research company Euromonitor. The global cosmetics industry is projected to hit $430 billion by 2022, according to a report by Allied Market Research.has been a clear standout over the past decade with its stock up more than 1,250% since 2009, nearly seven times the gains of the broader market. The retailer now has a market cap of $14.4 billion as of the market's close on Dec. 26.

"This has happened before, and therefore it is expected that color cosmetics will recover at some point, but it looks like this time, the recovery will take longer" said Linares. "The trend this time is driven by consumers looking for a more natural and healthier options and, in consequence, opting for a more natural look.", has already made efforts to cater to the shift in trends.

For some consumers, this means steering clear of items that contain microplastics and favoring items that include natural and organic ingredients.

 

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