The BoF Team is taking a well-deserved break. In the meantime, our reporters and editors have selected the best articles we published in 2022 across our core topic areas of expertise. Today, we focus on Beauty. Look out for our agenda-setting analysis to return on January 3. Happy holidays!
Dear BoF Community,
This was a year of transition for the beauty industry. Millennial pink definitively lost its lustre and in its place bold, Y2K makeup found favour: Glossier, the onetime darling of the beauty industry, laid off about a third of its workforce, set aside its direct-to-consumer convictions to sell at Sephora and saw its visionary founder Emily Weiss step down as CEO. Social media also changed. TikTok solidified its status as the social platform of choice for beauty.
Not only did brands generate massive sales from one-off posts, they also found innovative ways to insert themselves into – and even initiate – viral trends and online conversations. Meanwhile, companies continue to manage the evolving expectations and desires of the customer, online and off. Convenience is table stakes; trendy beauty lines can increasingly be found not just at Sephora or Ulta Beauty, but also at one-stop shops like Target, Walmart and CVS.
Fewer brands believe they can thrive without strong retail distribution. And throughout the year, celebrity and influencer brands continued to launch, but here too there was change: the allure of a big name no longer appears to be enough.
— Priya Rao, Executive Editor, The Business of Beauty
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