E.l.f. Beauty announced it will cut prices on some of its products, according to MarketWatch, following tariff-related price increases last year and growing concerns about how rising gas costs are affecting its core customer base.
The company's decision points to a specific consumer pressure point: Gen Z shoppers may be pulling back on cosmetics purchases as higher gas prices eat into their discretionary spending. E.l.f. Beauty has built much of its brand around affordable pricing targeted at younger consumers, making that demographic's spending habits especially important to its business.
The company raised prices last year in response to tariffs, a move made by a number of consumer goods brands navigating higher import costs. The planned price cuts would represent a reversal of at least some of those increases, aimed at keeping products within reach for budget-conscious buyers at a time when everyday costs remain elevated.
No specific timeline or list of affected products was included in the report.
