Even as many households have cut discretionary spending during a time of high inflation, the beauty category is showing signs of resilience.
Eighty-five percent of consumers have indicated a shift in their shopping behaviors, according to a recent Morning Consult survey. Yet, higher-income shoppers are more insulated from inflation and are less likely to alter shopping behaviors.
Moreover, high income U.S. households account for more than 40% of beauty sales revenue, according to NPD research.
