U.K. premium beauty market grows 10% through June 2011 while other European countries struggle with tough economy, NPD reports
October 31, 2011
– U.K.’s premium beauty market has grown 10% this year through June although rest of European counties continue to struggle, according to research firm NPD Group, the Retail Gazette reported Oct. 27.
Greater investments by beauty products companies in media promotions, new product launches and top brand re-launches are suspected of contributing to the country’s success, which surpasses all other European countries in all categories despite recording the lowest-prices in the region.
Showcasing the greatest price difference, fragrance products have an average selling price of €35 in the U.K., while Italy, Spain and France report average prices at €41, €47, and €52, respectively, reported the Retail Gazette.
The fragrance category saw 14% growth year-on-year, followed by skincare with 8% and make-up with 7%.
June Jensen, manager for NPD Beauty UK said the country’s model, which includes personal consultations in department stores, has given its market a competitive edge over countries like France, Italy and Spain, where self-service in chain stores is customary, according to the article.
According to the NPD research, the overall mass beauty market tapered by 1% from last year.
The primary source of this article is the Retail Gazette, London, England, on Oct. 27, 2011.