FOOD & HPC : #What'sHotOnTikTok: May 26 edition

Research evidence excerpt

FOOD & HPC : #What'sHotOnTikTok: May 26 edition

Refinitiv

#InvestmentSummary

To our mind, the growing importance of TikTok in establishing Beauty industry trends

should not be underestimated. In keeping with our previous reports (see

#What'sHotOnTikTok I, II, III & IV), we examine the top Beauty hashtags in Brazil,

France, the UK, and the US.

The conclusions of our analysis are as follows:

– Beauty conversation accelerated sequentially, but remains well below Q125

level: Beauty conversation on the platform accelerated again sequentially, compared

with the previous period (Oct 25-Jan 26), with the number of publications featuring the

top 100 Beauty & Personal Care hashtags increasing by c.41%. The level of Beauty

discussion in the current period remains c.54% below Q125 levels;

– Skin Care and Hair Care conversations are driving the Beauty conversation

pickup: Conversation around Skin Care and Hair Care particularly accelerated

sequentially. Fragrance conversation also gained momentum sequentially, after a period

of sharp decline (see the figure below):

Figure 1: Sub-category discussion trends on TikTok

Number of publications (000’) by sub-category of top 100 Beauty # in Brazil, France, UK, & US

1,800 12,000

1,600

10,000

1,400

1,200 8,000

1,000

6,000

600 4,000

2,000

0 0

Dec 24 - Mar 25 Mar 25 - Jun 25 Jun 25 - Sep 25 Oct 25 - Jan 26 Jan 26- Apr 26

B&PC (RHS) Fragrances Skin Care Makeup Hair Care Hair Colour

Source: BNP Paribas Equity Research estimates, TikTok Creative Center. Note: sub-categories are measured

against the LHS axis.

– TikTok Shop presence is increasingly becoming mainstream: Most of the Beauty

majors are now present on TikTok Shop and continue to roll-out new brands on the

platform or expand present brands across geographies. L’Oreal has the largest