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Bestie, let’s talk beauty. You know that feeling when you restock your favourite foundation, and the price has somehow crept up? Well, it’s about to happen a lot more. Nigeria’s beauty industry is largely dependent on imports – we brought in over $1.1 billion worth of cosmetics, perfumes, and toiletries in 2023 alone. Yep, over a billion. Most of our beauty staples come from China, India, and the U.S., meaning our supply chain is deeply tied to global trade.
But here’s where things get messy. With trade policies shifting and tariffs on the rise, getting your hands on your holy-grail products might start costing more.
What’s Happening?
Tariffs are extra taxes placed on imported goods, and they’re shaking up global trade. The U.S. has already increased tariffs on imports from China, and starting this year, Canada and Mexico are also facing a 25% tariff on select goods. Since Nigeria relies heavily on these markets for beauty imports, these changes could have a ripple effect, making our favourite international brands more expensive.
What This Means for Your Beauty Routine
International products could get pricey
If sourcing from major beauty hubs like France, Korea, and China becomes more expensive, brands will pass those costs down to consumers. That Fenty, Charlotte Tilbury, or even your go-to drugstore brand? The price might not be so friendly anymore. If tariffs go up, so do the price tags. Ouch. That means your go-to moisturiser, foundation, or perfume might come with a heftier price tag. But it’s not all doom and gloom, there are also upsides to this.
Local beauty brands could finally get their moment
With the cost of imports rising, Nigerian beauty brands might step up in a big way. Expect to see more homegrown skincare lines using African botanicals, richer pigment options for melanin-rich skin, and quality beauty products designed for our climate – all at better price points.
Say hello to minimalist beauty routines
Higher prices might push more people to simplify their routines. Instead of elaborate 10-step skincare regimens, we could see a shift towards multi-use products – think skin tints replacing heavy foundations and tinted lip balms doubling as blush.
More indie and private-label brands will emerge
This is a golden opportunity for Nigerian entrepreneurs. The demand for locally made, high-quality beauty products is about to skyrocket, meaning we could see more brands creating everything from shea butter-infused skincare to innovative haircare solutions.
Trend-driven beauty might slow down
Since Nigeria’s beauty industry follows global trends, supply chain issues could make it harder for brands to keep up with fast-moving fads. Instead of a new viral product launching every month, we might see brands focusing on timeless, high-quality formulas that stand the test of time.
The Bottom line
We could be entering a new era of beauty in Nigeria, one where local brands thrive, beauty routines become simpler, and shopping smarter becomes the norm. While higher prices on international brands might sting, this shift could actually be a game-changer for the Nigerian beauty industry.
Are you ready to embrace more local beauty products, or are you holding onto your international faves for dear life?
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Feature Image by Seun Oderinde for Pexels
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