Prestige Beauty Lines Ring In Holiday Season Riding Sales Growth, Reining In Price Increases
Prestige beauty sales should be strong through year-end with high-income consumer base less likely to feel squeeze of inflation, NPD Group forecasts. In 2022 first half, US consumers with more than $100,000 household incomes spent nearly $9bn on beauty products, a 14% increase.
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‘Lipstick Effect’ Holding In 2023 Despite Continuing Price Escalation – Catalina Marketing
Consumers continued to spend more on beauty products in January 2023 in US mass retail doors despite rising prices across face makeup, eye makeup and lipstick segments, according to market intelligence and consulting firm Catalina Marketing.
Natural, Low-Maintenance Makeup Trends Shaping Global Beauty In New Year – Euromonitor
The COVID-19 pandemic and related austerities may be past, but makeup is still not back, according to Euromonitor. There is opportunity, however, for multi-purpose, benefit-focused cosmetics that support skin health and the natural-beauty appearance consumers cultivated during the pandemic. Additional views from Kline & Company, Mintel, NPD Group.
Ulta’s Upgraded FY2022 Outlook A Good Sign For Holiday Beauty
Ulta has increased its fourth quarter and fiscal 2022 full-year outlook on strong third-quarter comparable store sales growth of 14.5%. Mass beauty is outperforming prestige, but CEO David Kimbell said “it’s hard to know for certain if we are starting to see consumers trade down.”