The company released a statement with these stats: The U.S. prestige beauty industry reached $11.2 billion and grew 3 percent in dollar sales in 2014, compared with 2013. Makeup was up 6 percent, fragrance dollars were up 2 percent and skin care increased by 1 percent. Another interesting finding: The prestige market outpaced the mass numbers (which remained steady), despite the fact that prestige prices are up—makeup, skin care, and fragrance grew 2 to 4 percent.
Overall, the company says the growth was driven around increasing interesting in organic brands with a natural, clinical, or alternative slant in the fragrance and skin care categories. And the makeup growth? Mostly thanks to our obsession with lipstick—specifically pink lipstick, which surpassed red as the leading color.
The takeaway, according to Karen Grant, global beauty-industry analyst for the NPD Group: “Beauty today is all about the base. Understanding how the consumer base has changed in population and lifestyle. Each category reflects this dynamic. Before consumers apply their makeup, they want a soft, unblemished, anti-aging face. They want to feel confident about their ‘I woke up like this’ look, and are being proactive rather than reactive about their beauty choices. There continues to be growing popularity in products that are more organic and offer advanced benefits, from natural, clinical, and alternative brands to artisanal scents. While consumers look at craftsmanship and point of difference, they continue to seek instant gratification, from facial masks and bronzers that offer radiance, to bold lips and a mood-boosting scent.”
Interesting, no? Have you noticed a difference in what you've been seeking out in the last year? Have you invested more in your skin care? And are you wearing pink lipstick more often than red? Discuss.