Consumers have a heightened interest in a personalized approach to beauty and in their choice of beauty products. This is opening the door to brands that have a specific, fine-tuned beauty focus.
Port Washington, NY (PRWEB) July 27, 2015
Niche, indie brands are growing at the fastest rate within the U.S. prestige beauty market, giving bigger brands a run for their money, according to data from global information company The NPD Group’s U.S. Prestige Beauty Total Measured Market (TMM) retail sales tracking service. Looking at dollar sales within the total market and exclusively online from January through June 2015, this is a trend that is happening across retail.
“Consumers have a heightened interest in a personalized approach to beauty and in their choice of beauty products. This is opening the door to brands that have a specific, fine-tuned beauty focus, whether it be eye brow expertise or targeted solutions for specialized skin concerns, rather than more generalized expertise in a broader category, like makeup or skincare,” said Karen Grant, global beauty industry analyst, The NPD Group. “Looking across the Total Measured Market for prestige beauty reveals just how dynamic this trend has become, and how brands that previously would not have been considered as major players are carving out their space in the minds and wallets of beauty consumers.”
Overall, consumers are investing in prestige beauty. The industry grew 7 percent in the first half of 2015, compared to 4 percent during the same period in 2014*. Prestige makeup growth continues to exceed that of its skincare and fragrance counterparts, within the total market as well as online specifically, where skincare holds the lion’s share of dollar sales.
“In large part, the rise and success of the more niche, boutique style brands can be attributed to the online environment, which has given these brands a louder voice and broader reach,” added Grant. “While brick and mortar is still the major channel for prestige beauty product sales, online and other Total Measured Market channels such as mid-tier are providing new and smaller brands a platform to tell their unique stories and engage with a meaningful base of consumers. This is creating entirely new opportunities, a new view of the competition, and is altering the dynamics within the industry.”
*Source: The NPD Group, Inc. / U.S. Prestige Beauty Total Measured Market
About The NPD Group, Inc.
The NPD Group provides market information and business solutions that drive better decision-making and better results. The world’s leading brands rely on us to help them get the right products in the right places for the right people. Practice areas include apparel, appliances, automotive, beauty, consumer electronics, diamonds, e-commerce, entertainment, fashion accessories, food consumption, foodservice, footwear, home, mobile, office supplies, retail, sports, technology, toys, video games, and watches / jewelry. For more information, visit npd.com and npdgroupblog.com. Follow us on Twitter: @npdgroup and @npdstyle