Premium Reigns Supreme in Beauty
09.08.16
Euromonitor shares insights into what's growing and why during marketing trends session.
Premium is where the growth is across the beauty sector, according to Amanda Hartzmark, a research analyst with Euromonitor who opened the marketing trends session at the opening day of In-Cosmetics North America in New York City yesterday.
There’s several factors behind it, including the notion that if a woman can’t afford to buy a Burberry scarf, for example, she may instead splurge on Burberry lipstick or BB crème.
Skin care is one sector where premium products have a stronghold on consumer’s dollars and interest. And while premium consumers have high expectations when it comes to premium skin care, they are willing to experiment, noted Hartzmark.
Within skin care, niche brands continue to gain share, according to Hartzmark. As an example, she cited Glamglow, a company started in 2010 by a husband and wife team who crafted masks for Hollywood insiders. In 2015, Glamglow had a 41% share of the US premium facial masks sector. The company’s lead position in a growing sector was no doubt a factor in Estée Lauder Companies’ acquisition of the company.
Niche brands are also faring well in fine fragrance. Gone are the days when everyone wanted to smell like the celebrity du jour. According to Hartzmark, consumers want to smell unique and are gravitating to brands like Tom Ford and Jo Malone in their quest to have their own distinct scent.
There’s several factors behind it, including the notion that if a woman can’t afford to buy a Burberry scarf, for example, she may instead splurge on Burberry lipstick or BB crème.
Skin care is one sector where premium products have a stronghold on consumer’s dollars and interest. And while premium consumers have high expectations when it comes to premium skin care, they are willing to experiment, noted Hartzmark.
Within skin care, niche brands continue to gain share, according to Hartzmark. As an example, she cited Glamglow, a company started in 2010 by a husband and wife team who crafted masks for Hollywood insiders. In 2015, Glamglow had a 41% share of the US premium facial masks sector. The company’s lead position in a growing sector was no doubt a factor in Estée Lauder Companies’ acquisition of the company.
Niche brands are also faring well in fine fragrance. Gone are the days when everyone wanted to smell like the celebrity du jour. According to Hartzmark, consumers want to smell unique and are gravitating to brands like Tom Ford and Jo Malone in their quest to have their own distinct scent.
