The cyclical nature of fashion and beauty has always been a reliable engine for retail growth, but the speed at which trends now rotate is catching even the most seasoned market analysts by surprise. While the early 2000s dominated the cultural conversation for the past few years, a new and distinct shift is underway. Generation Z has officially moved on to a period they consider vintage yet deeply influential: the year 2016. This specific aesthetic pivot is currently fueling a massive resurgence for major industry players like Ulta Beauty and e.l.f. Beauty.
To the casual observer, 2016 might seem too recent to qualify as a nostalgic era. However, for a generation that consumes content at the speed of light, the mid-2010s represent a golden age of social media discovery. This was the era of the full-coverage look, characterized by matte liquid lipsticks, heavy contouring, and meticulously groomed eyebrows. As young consumers rediscover these bold styles through viral short-form videos, they are returning to the brands that helped define that specific moment in time.
e.l.f. Beauty has emerged as a primary beneficiary of this trend. The company has successfully positioned itself as a high-quality yet affordable alternative to luxury brands, mirroring the value-driven mindset that first made it a household name nearly a decade ago. By leaning into the high-glam aesthetic that defined 2016, e.l.f. has managed to capture a significant share of the youth market. Their ability to iterate quickly and launch products that align with these revived trends has allowed them to outperform many of their legacy competitors who have been slower to adapt to the changing tide.
Ulta Beauty is also seeing the fruits of this cultural shift. As a massive multi-brand retailer, Ulta serves as the physical hub for the experimental beauty shopper. The company reported that its ability to house both prestige and mass-market brands under one roof is a significant advantage when consumers are looking to recreate complex looks from the past. The 2016 aesthetic requires a wide variety of tools and products—primers, setting sprays, and intricate eyeshadow palettes—all of which drive higher basket sizes for the retailer.
Financial analysts note that this nostalgia is not just about vanity; it is a calculated driver of consumer spending. When a specific era becomes trendy, it provides a roadmap for consumers who might otherwise be overwhelmed by the sheer volume of choices in the beauty aisle. By following the 2016 blueprint, Gen Z shoppers have a clear set of products to purchase and techniques to master. This clarity often leads to increased brand loyalty and repeat purchases, particularly for brands that were staples during the original movement.
Social media platforms have acted as the primary catalyst for this revival. Creators are increasingly posting tutorials that contrast the natural, minimalist makeup of the early 2020s with the dramatic, polished looks of 2016. These videos often garner millions of views, creating an immediate demand for specific product categories. Brands like e.l.f. have been masterful at inserting themselves into these digital conversations, often using humor and self-awareness to bridge the gap between their older product lines and their new, younger audience.
The broader implications for the beauty industry are significant. The return to a more intensive makeup routine suggests that the era of skin-minimalism may be taking a backseat to artistic expression. For investors, this signals a potential prolonged period of growth for companies that specialize in color cosmetics and application tools. As long as Gen Z continues to mine the recent past for inspiration, the stocks tethered to these trends are likely to find continued support from a highly engaged and free-spending demographic.
