Prestige maintains momentum
U.S. prestige beauty posted its highest sales results in 15 years, with all beauty categories surpassing pre-recession levels, according to market research firm NPD Group. According to NPD’s beauty market research, total U.S. prestige beauty generated $9.5 billion in 2011, an increase of 11% in dollars. This compares with $8.6 billion in 2010.
“What is most intriguing about the acceleration in prestige beauty performance is the degree to which it stands in stark contrast to the overridingly lackluster consumer outlook,” stated Karen Grant, VP and senior global industry analyst for NPD. Grant noted that the high-end, premium price points experienced the strongest gains.