Beauty Spending Keeps Thriving Even as Consumers Grow More Cautious
Gas prices are brutal, groceries aren’t cheap, and your 401(k) has seen better days — but Americans are somehow smelling incredible. Men have become the unlikely engine of a US beauty boom that’s catching the industry off guard. Fragrance in particular has emerged as the fastest-growing US beauty category, and it's starting to move markets.
- On TikTok, men’s fragrance influencers grew ~12x last year — as the layering trend pushed shoppers to buy multiple scents, lotions, and body wash per trip.
- Amid the boom, Inter Parfums posted 20%+ online sales growth over the past year — drawing M&A interest across the sector from giants like Estée Lauder.
Her turn: Men aren’t the only ones spending through the gloom. Victoria’s Secret surged 47.4% on Tuesday, doubling earnings expectations as sales climbed 13% from last year. The female beauty retailer posted those numbers with significantly fewer promotions, and the strongest market share gains came from 18-to-24-year-olds — the same cohort driving the men’s fragrance boom. For the generation raised on looksmaxxing, economic anxiety isn’t part of the skincare routine.
