Global prestige beauty market experienced mixed results in the first half of 2013, according to research by The NPD Group. The US prestige beauty* industry posted an 8% gain, generating $5bn n the first six months of the year. In Europe, the UK gained 6%, generating £803m in prestige beauty sales, while France, Italy, and Spain continued to face challenges in this industry.
“Our expectation for 2013 was that the global prestige beauty industry would look similar to 2012, and the results thus far are proving this to be true, as economic uncertainties continue to weigh heavily on the European markets,” said Karen Grant, vice president and senior global industry analyst, The NPD Group.
Despite declines in many countries, fragrance continues to account for the largest share of prestige beauty sales in Europe (UK: 43%, France: 62%, Italy: 40%, Spain: 51%). However, makeup was the star performer, with strong gains in the UK, and a slight uptick in Spain. In terms of market share, Italy is the most level playing field, with each category representing close to a third of sales in the first half of the year.
*Prestige Beauty: Products sold mainly in US Department Stores.