2022 Business Trends (Part II)
· After the pandemic, 63% of consumers will prioritize shopping at small & local businesses.
· The Washington Post reports that those over 65 are the fastest growing category of e-commerce shoppers. (Advice to small and local businesses: jump on this trend and start marketing to boomers; offer “buy online, pick-up in store (BOPIS) & curbside pickup options).
Hot Businesses and Industries
· Toy sales increased 17% ($2.3 billion) January-September 2021
· Plush toys saw the fastest growth of 39% (source: NPD Group)
· Makeup sales returned to 78% of their 2019 levels last May 2021. This rebound will accelerate as consumers increasingly return to in-person activities and mask requirements loosen.
· Clean Beauty—makeup and skincare products composed of nontoxic, ethically sourced materials is becoming increasingly popular because consumers care about what goes into the creams, powders & lotions they are using. Clean beauty market is a $5 billion market and is expected to reach $12 billion by 2027. (Source: Brand Essence Research)
· Men—War Paint for Men https://us.warpaintformen.com/ offers the first makeup store for men. Makeup for men is a growing trend with a number of manufacturers offering a line of cosmetics. Market sales is expected to reach $166 billion in 2022. (Source: Allied Market Research).
Beauty (hair styling & grooming)
· Sales of women’s hairstyling and men’s grooming products increased by double-digits from April-September of 2021 vs 2020.
o Women’s Products: specialty stylers +58%; curling irons +43%; hair setters +35%; flat irons & straighteners +25%
o Men’s Products: Body groomers +43%; nose/ear trimmers +26%; pen trimmers +13 (source: NPD’s ongoing home industry research).
More 2022 Trends in next weeks newsletter. Stay, safe and stay tuned!