In the age of remote work, makeup sales have experienced an unexpected surge, thanks to the prevalence of video calls, especially on platforms like Zoom. Space NK’s CEO, Andy Lightfoot, highlights a trend where customers are actively embracing colorful makeup and investing in cosmetics, driven by heightened self-awareness during virtual meetings. The ability to see oneself on video calls has become a key factor influencing increased demand for makeup.
Despite pandemic-related challenges, Space NK witnessed a remarkable 39% growth in makeup sales during the six months leading to September. This growth is attributed to various factors, including TikTok beauty trends and the resumption of social events.
Looking ahead, Space NK foresees sustained strong performance, projecting a 37% turnover increase to £185 million by the end of March. The company plans an aggressive expansion strategy, aiming to open between eight and ten new stores annually for the next two to three years. Lightfoot identifies potential opportunities in untapped areas of London, the Midlands, and various cities in the northern regions for future store locations.
