Happi Staff08.01.20
The Lipstick Effect was no match for COVID19 infection rates. Sales of prestige beauty products plunged 36% to $2.8 billion in the second quarter, according to data from The NPD Group.
With face masks in fashion, it's no surprise that color cosmetics sales took the biggest hit during the period, falling 52%. Next was fragrance, which posted a 37% decline. Meanwhile, skin care sales fell "only" 18% in Q2, according to NPD. Hair care suffered least, as sales dropped 10% to $197 million
How 'bout some good news? With traditional retailers closed in much of the US, online sales soared more than 90%, accounting for 61% of industry sales volume and accounting for 70% of market share. Other bright spots included nail care, +29%; body and facial devices, +16%, and body exfoliators, +15%—all sure signs that consumers were in a DIY mood with most stores closed. Meanwhile, candle sales rose 13% and home ancillary gift sets soared 88%.
With face masks in fashion, it's no surprise that color cosmetics sales took the biggest hit during the period, falling 52%. Next was fragrance, which posted a 37% decline. Meanwhile, skin care sales fell "only" 18% in Q2, according to NPD. Hair care suffered least, as sales dropped 10% to $197 million
How 'bout some good news? With traditional retailers closed in much of the US, online sales soared more than 90%, accounting for 61% of industry sales volume and accounting for 70% of market share. Other bright spots included nail care, +29%; body and facial devices, +16%, and body exfoliators, +15%—all sure signs that consumers were in a DIY mood with most stores closed. Meanwhile, candle sales rose 13% and home ancillary gift sets soared 88%.
