Beauty Entrepreneurs Take Stock of What Trump’s Victory Could Mean for Business

I don’t anticipate significant changes in my business due to the upcoming Trump presidency. I believe tariff adjustments may heavily impact industries that rely on Chinese imports such as apparel, toys, tech and low-cost retailers like Walmart that stock these goods, but should have little impact in the prestige beauty sector where Better Not Younger plays.

If Trump succeeds in curbing inflation and restoring consumer confidence, we may see an increased demand for premium products.

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As a small, Hispanic-, woman-owned business with LGBTQ+ family members, the impact of a Trump presidency has a range of implications. While some policies such as tax cuts and deregulation may be beneficial to my business in the short term, others will pose significant challenges like higher costs based on Trump’s desire for tariffs. 

The broader political climate may also create significant hurdles, especially considering the intersectionality of my identity and family dynamics. The Trump administration’s history of limiting protections for minority groups, including LGBTQ+ individuals, raises concerns about the potential erosion of rights and safety. 

For me, as a business owner whose identity intersects across these marginalized groups, I feel the larger impact will be in financial terms and the day-to-day challenges of navigating an increasingly polarized and hostile environment.

As an indie beauty founder working closely with spa partners, I’ve seen firsthand how the rising cost of basic necessities has heavily impacted consumer behavior. Over the past year, spa bookings have seen a significant decline as clients prioritize their shrinking budgets on essentials. This shift has been challenging for many of the small businesses like solo aestheticians and spas we collaborate with, some of which have struggled to keep their doors open.

Additionally, I’ve observed a trend where even luxury beauty brands traditionally resistant to discounts have resorted to frequent sales to stimulate consumer spending. For indie brands, the rising costs of raw materials and shipping have compounded these challenges, leading to the unfortunate closure of some truly beautiful brands such as Mun Skincare Skincare and Luxe Botanics.

With President Trump winning the election, I believe the strong win and the “red wave” across the United States map is a testament to the American people’s demand for change. With the economy being the central deciding factor in this election, this outcome will restore consumer confidence and spending. Many small businesses, including spas and indie beauty brands, are hopeful that this shift will create the conditions needed for them not only to survive but to thrive.

A Trump presidency may be “beneficial” from a pure business perspective. We are running a profitable business and he will likely keep or lower business taxes. However, as a founder and a human, I don’t make decisions solely through an economic lens. 

I fear that women-owned businesses—the bread and butter of inspiration and innovation in beauty and wellness—will not be developed properly. It is also unknown what a continued culture of division will do to our customers and employees. Stress affects our health in tangible ways and may drive consumers to invest in their health and wellness more or lead them to other measures.

But there is hope as there always is for America’s future. My 4-year old son told me “Mommy, I want a girl to be president.”

The biggest thing we’re immediately going to be keeping an eye on is tariffs. We source a few ingredients and packaging components from overseas and are expecting to see costs increase in 2025 if Trump keeps his promises. That will likely mean needing to pass those increased costs on to our customers in order to maintain margin.