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What’s the reason for Beauty’s bankruptcy blitz? In the last two years, many companies like Revlon, Forma Brands, Beautycon, Birchbox and Becca Cosmetics have entered into an insolvency procedure. There are more brands that could fall as the age of easy money comes to an end.
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It’s the Vogue Business Beauty Trend Tracker made in conjunction with Spate. It examines the most popular ingredients, brands, and trends which are causing the most dramatic positive changes in the year-over-year growth rate. These trends have also seen steady upward growth over the past few years. Every week we’ll highlight the latest trends in the beauty industry. Be sure to check back for the next makeup week.
The top searches for skincare, like snail serum and snail facials, demonstrate that consumers are willing to put aside their concerns about a slimy texture to boost hydration. Patches for skin are increasing in popularity, and face patches or star pimple patches are now the most searched-for items for those seeking solutions to skin problems. Nano needling is a popular procedure, and people are seeking methods that are not invasive to get the desired outcomes.
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Consumer awareness could drive changes. “Consumers want more information. They want more transparency, not just the sound bites,” Han says. Han. “The wave is changing because of perfume TikTok, young people, and there are certainly younger perfume TikTokers of colour. They are eager to learn about perfumery. They want all this information. And, because we have Tik Tok videos, all of this information can be more easily disseminated. Young people have a serious hunger for it.”