Prestige beauty sales proceed to rise, whilst the specter of a possible global recession looms.
In keeping with data from The NPD Group, prestige beauty sales within the U.S. grew to $6 billion within the third quarter, a 15 percent increase versus 2021’s third quarter.
“Unit sales and revenue are each growing by double digits for beauty products sold within the prestige market, indicating that customers are indulging in beauty products this yr,” said Larissa Jensen, beauty industry adviser, The NPD Group, in an announcement.
NPD reports that makeup sales officially surpassed pre-pandemic 2019 levels through the third quarter, posting $2.1 billion in total sales, with lip makeup ruling because the fastest-growing segment for the quarter, growing 32 percent.
Despite having...
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