Breaking News

Sales of Premium Prestige Beauty Experience Double-Digit Growth

December 20, 2013

Fragrance innovation is fueling business, according to NPD.

The NPD Group, Inc. reports sales of premium priced prestige beauty products in the US reached $2.2 billion in the 12 months ending November 2013—a 23% increase versus the same time period last year.

“The value of premium priced beauty products to a consumer can range from the quality of the ingredients and product performance, to something as simple as cost benefits that come with a larger format,” said Karen Grant, vice president and senior global industry analyst, The NPD Group, Inc. “Whatever the motivation, consumers continue to be more willing to invest in their beauty products.”

Over the past two years, the average price of prestige beauty products has increased consistently. Fragrance is the category with the highest average selling price, largest price increase, and most significant increase in unit sales of premium priced products. Fragrance juices, face makeup, and sun-related skincare are the segments with the highest increases in average selling price between December 2012 and November 2013.

“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,” said Grant.

  • Sparkle & Shine

    Sparkle & Shine

    Melissa Meisel, Associate Editor||November 21, 2016
    Glam packaging and upscale scent combos are big at Yankee Candle for Holiday 2016.

  • Cos Bar: Turning 40 and Hitting Fast Forward

    Cos Bar: Turning 40 and Hitting Fast Forward

    Christine Esposito, Associate Editor||November 21, 2016
    With a recent investor infusion, a new CEO and rebranding effort underway, this luxury beauty retailer has big plans.

  • Organic Matter

    Organic Matter

    Christine Esposito, Associate Editor||November 14, 2016
    FTC and USDA hold a public roundtable to discuss consumers’ perception of organic claims.

  • The World Comes to Orlando

    The World Comes to Orlando

    Tom Branna , Editorial Director||December 1, 2016
    More than 1,600 chemists traveled to Florida for the IFSCC Congress

  • The Plex  Phenomenon

    The Plex Phenomenon

    Denise Costrini, Croda North America||December 1, 2016
    Croda details the hair-protecting qualities of bond multipliers and the company’s new bond-building formulation system.