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Consumer Behavior

Bargain, beauty retail will reap big rewards this year, claims Wells Fargo

Bargain, beauty retail will reap big rewards this year, claims Wells FargoPhoto by istock.com


The bargain retail and beauty segments will be big winners when it comes to sales this year, now that shoppers are increasingly returning to stores as COVID-19 vaccines continue, according to a Wells Fargo study. Consumers are getting more comfortable being in store locations and around others, which is also driving sales for the two sectors, according to a CNBC report on the bank's study results.

The study polled 1,000 U.S. consumers regarding post-pandemic shopping activity. Nearly half surveyed said they'll most likely be out buying makeup first — which will prove beneficial to retailers such as Ulta, according to an industry analyst interviewed by CNBC.

On the reverse retail end, sales of comfortable and athletic apparel are expected to decline, as will home goods. Both sectors benefited greatly from a year of work-at-home and stay-at-home requirements due to COVID-19, the report said.



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