
KEY TAKEAWAYS: Tariffs could change the beauty industry in meaningful ways, and you should be informed and prepared for the possibilities. From rising prices and supply chain changes to overcoming potential challenges, here’s what tariffs could mean for the beauty industry.
Talk of tariffs has been the hot gossip lately, and there’s a reason why. Depending on how the potential tariffs shake out and stick, they could fundamentally change some aspects of the economy in both the short and long term.
While it’s hard to sort through the chaos and rhetoric surrounding tariffs, we can explore some of the ways tariffs would impact the beauty industry.
Remember, everything is subject to change, so the things discussed here could be temporary, permanent, or never happen in the first place!
What You Should Know About Beauty Industry Tariffs
The Potential Impact of Tariffs on the Beauty Industry
While the exact effect tariffs might have on the beauty industry is uncertain, it’s safe to assume that a few changes will occur–especially initially. By familiarizing yourself with these most likely outcomes, you can be prepared to adapt quickly when they go into effect.
Beauty Product Prices Might Increase
Because tariffs impact the price of imported goods, it’s likely that beauty product prices will go up. This increase will not be limited to ready-to-use products that are imported.
Any product that uses raw materials and ingredients that are subject to tariffs will also see a price increase.
Beauty Industry Supply Chains Might Change
As different tariffs go into effect and trade partners respond in different ways, the supply chain for beauty products may shift. Some of these shifts might be temporary and go back to normal once the tariffs have been sorted out, but some may stick around for a long time.
How to Adapt to Beauty Industry Tariffs
Purchase Beauty Products Made in the USA
One of the key characteristics of tariffs is that they predominantly influence the price of imported goods.
While there is some nuance to this statement–raw materials and ingredients are sometimes imported and used in domestic products–buying American-made beauty products can help offset rising prices.
Not only can purchasing beauty products from American companies save you money when tariffs take effect, but it can also give you an opportunity to support the beauty professions crafting fantastic products in your proverbial backyard. That’s a serious win-win.
Stock Up on Essentials Now
If you rely on certain products that you believe will see price increases, now is the time to buy.
Don’t wait and see, especially if those products have a long shelf life. Instead, purchase in bulk so that you can avoid paying a premium for them and you can avoid running out in the near future.
"Talk of tariffs has been the hot gossip lately, and there’s a reason why. Depending on how the potential tariffs shake out and stick, they could fundamentally change some aspects of the economy in both the short and long term."
Depending on the supply, you may need to look for viable alternatives to your essential products. Whether you want to buy these in bulk or not will depend on where they are manufactured and whether you believe they will be impacted by the tariffs or not.
Be Transparent with Your Clients
It can sometimes be awkward and uncomfortable to navigate price increases with your clients. You never want to charge them more, but sometimes, external factors demand that you do so.
Rather than surprising your loyal customers with unannounced price increases for your goods and services, be as transparent as possible. There are several ways to do this, and if you approach the topic with sensitivity and honesty, your customers are extremely likely to appreciate it and be understanding.
Take to your social media platforms with a heartfelt message, post an update on your website, put a poster on the wall of your salon, and let every client know about the changes in person when they visit your shop. The more avenues you can use to spread the word, the better.
To help offset some of the higher costs, you can recommend alternatives to their go-to products, reward loyal customers with a loyalty program, and offer revised services at budget-friendly prices.
Be Cautious and Practice Patience
Fortune may favor the bold, but when it comes to operating your beauty biz, a little caution is sometimes necessary.
As your social media platforms, friend groups, and news outlets work themselves into a frenzy over the tariffs, try to keep a level head and approach the situation with cautious optimism.
Making rash decisions in uncertain times can harm your business in the long run. When in doubt, play things safe and practice a bit of patience. As time goes on and the tariffs take effect, the picture (both present and future) will undoubtedly become clearer.
Tariffs might seem scary, but with some preparation and adaptability, you can overcome the challenges they present. After all, you are a beauty pro, and that means you’re a hard-working go-getter!
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Meet Hanna Marcus, the Founder and Head Copy Gal behind Boundless Copy, a one-of-a-kind copywriting agency that specializes in big, bold brand voice and industry-disrupting copy that’s all about resonating with the right audience.
Hanna has proudly teamed up with Elite Beauty Society for several years as their go-to copywriter on all things beauty, small biz marketing, and brand voice development. She’s big on feeling-first writing–her personal soapbox is that the best copy starts with telling a story.
When she’s not writing cheeky, converting copy for clients, she’s mentoring other aspiring copywriters and creating digital copywriting resources designed for service pros and focused on taking the stress out of DIY copywriting.