Economic uncertainties are not any match for prestige beauty, latest data shows.
In keeping with a year-end report from the NPD Group, every category in prestige beauty posted double-digit gains, with makeup, skincare, fragrance and hair growing 18 percent, 12 percent, 11 percent and 22 percent, respectively. The industry overall grew 15 percent.
That ballooning of sales shows no signs of abatement, in accordance with Larissa Jensen, vice chairman of beauty at the NPD Group. “It’s still up double digits year-to-date to date,” she said. “That swell is continuous in 2023, which is what we anticipated.”
Across the consumable sectors NPD tracks, prestige beauty was the just one to achieve double-digit sales in units. “It goes back to the lipstick index and the...
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