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Ulta Beauty sees GLP-1 trend lift demand for hair and skincare
Ulta Beauty is experiencing increased demand for hair and skincare products due to the rising use of GLP-1 weight-loss drugs. CEO Kecia Steelman noted that rapid weight loss from these drugs leads to concerns like hair loss and skin moisture, driving shoppers to seek specific beauty products. This trend, with GLP-1 users expected to account for 10% of the U.S. population in 2025, is impacting Ulta’s sales, particularly in its skincare, wellness, and hair care categories, which contribute significantly to its $12.39 billion annual revenue.