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Feb 252014 Gossip
 

prestige

Sales of prestige cosmetics rose 5% in the United States in 2013, thanks to the dynamism of the makeup and skincare categories. Sales were also supported by the double-digit growth of the most luxurious products. The NPD Group also noted a shift of the market towards less traditional fragrances with unusual scents. Looking beyond the prestige market, sales within the US mass channel also increased slightly, up 1 per cent for total beauty in 2013, versus 2012 [2]. The makeup category grew the most, at 2 per cent, followed by skincare at 1 per cent, but fragrance struggled with a 6 per cent decline in dollars compared to 2012. Over the past two years, the average price of prestige beauty products has increased consistently. “Whatever the motivation, consumers continue to be more willing to invest in their beauty products,” said Grant. “The willingness of today’s consumers to spend a little more on their beauty products is a continued opportunity for manufacturers and retailers. It is the right time for communicating the end benefit of investing in better products and service to get the attention of your customer, and delivering on those promises will do the rest,” she added.

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