The US prestige beauty industry grew 4% to $3.5 billion In the fourth quarter of 2013, according to recent data from The NPD Group.
The average selling price of each category increased compared to Q4 2012, driven in part by growth in sales of premium-priced product offerings.
“Last year closed on a positive note for the prestige beauty industry as a whole. Makeup and skincare continued to shine the brightest, and while holiday has traditionally been a fragrance dominated sales period, the gap is closing between fragrance and makeup holiday sales volume. The premium segment is thriving in the US, and helped to minimize the decline in fragrance,” said Karen Grant, vice president and global industry analyst, The NPD Group, Inc.