After an explosive two years, beauty devices show no signs of retrenching in 2022. The category, notoriously difficult to grow due to low replenishment rates, is only gaining momentum heading into the new year.
In addition to the convenience factor, Tera Peterson, cofounder and chief creative officer of NuFace, said the need for efficacy is also driving demand.
Proving devices’ results — and communicating them — is also an imperative as brands look to scale. “Innovation is important because the consumer really needs to see the efficacy to justify the high price for the device,” said Ilya Seglin, managing director of Threadstone Advisors’ investment banking division. “Otherwise, it’s easier to try a $50 liquid product that may or may not deliver than it is to spend $200 on something that may or may not work.
Adding replenishable categories has worked well for NuFace. When the brand branched into skin care earlier this year,the brand was to reach an estimated $150 million in retail sales for 2021, with more than 20 percent of those sales expected to come from the skin care side of the business.
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