Growth in prestige beauty market doubles in six months to June 2017
London: 4th September 2017: The market for the sale of prestige beauty products in the UK reported an increase of £60 million in the six-month period January 2017 to end of June 2017 according to The NPD Group, a global information company.
The total prestige beauty market was valued at £1,013 million from January 2017 to end of June 2017. It grew by £60 million, compared to just £30 million in the same period in 2016. This represents a 6% increase in growth, largely driven by make-up and super premium skincare.
June Jensen, Director, NPD UK Beauty says: “The growth we have seen in the UK prestige beauty market is impressive, given the uncertainty post-Brexit. We believe that an increase in global shoppers is a large contributing factor to this growth. Visitor numbers to the UK continue to grow, in part due to the weak pound, making the UK a more attractive place to shop.”
Make-up accounts for 36% of the total prestige beauty market, just behind fragrance and ahead of skincare. It contributed 48% of growth in the market, eclipsing fragrance at 29% and skincare at 23%. New make-up product launches are driving this increase in sales, which is an exception. In fragrance and skincare, existing products represent the greatest growth.
Super Premium Skincare represents only 7% of the market but drove 34% of growth adding £5 million in sales in the period January 2017 to end of June 2017. In London sales grew by 30% increasing by £2.6 million. Online sales of Super Premium Skincare reported stellar figures increasing 102%. Super Premium skincare overall has grown 53% in the past four years. Fragrance reported booming sales in London too with an increase of 11%.
June Jensen, Director, NPD UK Beauty concludes: “From the figures we have seen there is a definite boom in the prestige beauty market as demonstrated by the data from January 2017 to end of June 2017. Make-up and Super Premium Skincare are a real attraction for overseas visitors as they include many designer brands. Retailers confirm they have seen an increase in Global Shoppers in store. London is considered the shopping capital of the UK and the increase in visitor numbers to the city, and the weak pound confirms our thoughts that the Global Shopper is boosting the prestige beauty market.”