If the U.S. TikTok ban goes into effect on Jan. 19, beauty brands and content creators may flock to Meta- and Google-owned apps, but Instagram is already beauty’s top social media platform. India banned TikTok in 2020 and serves as a possible comparison for what could happen in the U.S.: For the top 10 beauty brands in the U.S., the average breakdown of media impact value (MIV) in the second half of 2024 was 43% Instagram, 34% TikTok, 16% YouTube and 1% Facebook compared to India’s 58% Instagram, 26% YouTube and 9% Facebook. There are smaller platforms offering short-form videos that could replace TikTok for beauty brands and creators, such as Lemon8, Triller, Kwai and Likee. {WWD/paywalled}
How Long Will the Luxury Slowdown Last?
As brands enter 2025 amid a luxury sales slowdown, there are many different scenarios for how and when sales could turn around. Analysts say the best case is that global sales of personal luxury goods rise by 6%, and the worst case is that sales drop 2%. Most analysts forecast around 3% growth year-on-year, but these outcomes depend on consumer confidence in China, Trump’s tariffs and conflict in the Middle East. China will remain a major luxury market in 2025, but the government is working on reinstalling consumer confidence following consumers perceiving a decline in their personal finances. Analysts share a positive outlook for the U.S. luxury market in 2025 and predict a “significant uptick” in luxury sales by the end of the second quarter, but uncertainty surrounding how Trump’s tariffs will impact brands remains. {Vogue Business/paywalled}
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