The NPD Group Inc., in revealing the 2012 year-end results for skin care, makeup and fragrance, indicated the prestige beauty market grew in the U.S. and that fragrance is among the categories leading growth once again.
“Even though consumer confidence continues to waver, there is momentum at both ends of the price and product spectrum," said Karen Grant, vice president and senior global industry analyst at the NPD Group. "In 2012, along with smaller categories in beauty, we are seeing investment spending on premium-priced makeup, skin care, fragrance, as well as premium-priced sets, which led in growth once again."
NPD recently presented the U.S. and global beauty industry’s first look at 2012 year-end results for skin care, makeup, and fragrance at its annual “Hot off the Press” event at the Harmonie Club in New York. Results showed the U.S. prestige beauty industry grew 7% in dollar sales. The U.S. had the greatest dollar percent growth followed by the U.K. and Mexico, which were both up 5%. France fell 1% in dollar sales followed by Italy (down 4%), Spain (down 7%) and Argentina (down 10%).
Still, "Even in Europe, where the economic environment is more challenging, the major premium-priced category, fragrance, was positive," said Grant. "Premium-priced products remain one of the brightest spots in beauty and will continue to carve out market share across all categories and geographies in the New Year," Grant added.