Just The Numbers: US Prestige Beauty Grew 16% in Q2 2022

beaAccording to The NPD Group, the post-pandemic status magnificence rebound continues. Following Q1 2022, gross sales income of $5.3 billion represented a 19% improve versus Q1 2021; the second quarter of 2022 noticed US status magnificence gross sales attain $6 billion, a 16% improve versus Q2 2021.”In addition to its robust income development, magnificence is the one trade with rising unit gross sales to this point this 12 months throughout the 14 discretionary retail industries tracked by NPD in the US—a testomony to its resilience contemplating the wonder trade reverted to 2015 gross sales ranges in 2020,” mentioned Larissa Jensen, magnificence trade advisor, The NPD Group.MakeupAt $2 billion, make-up gross sales income continued to be decrease than pre-pandemic 2019 ranges, however the make-up class surpassed pre-pandemic unit gross sales by 1% in Q2 2022, versus the identical interval in 2019.Lipstick gross sales income elevated by 28% in Q2. From January by means of June, lip merchandise had been the fastest-growing make-up phase and skilled softer declines than the remainder of the make-up class in comparison with pre-pandemic 2019.FragranceFragrances noticed $1.5 billion in gross sales a 13% improve. The common value in the perfume class is at present 25% larger than it was three years in the past. In Q2 alone, the common value for fragrances elevated by 6%, versus 2021, double the speed of the remainder of the wonder trade. “While inflation performs a job, the elevated pricing for fragrances can also be about a rise in buying higher-priced product,” mentioned Jensen.Gift units made a robust comeback throughout Mother’s Day and Father’s Day 2022, gaining market share throughout these key vacation durations versus final 12 months. This shift was distinctive to those gifting durations, however could possibly be a constructive indicator for the vacation season forward.SkincareSkincare gross sales reached $1.7 billion in Q2, representing a 12% improve.Body care merchandise proceed to outpace facial skincare in phrases of gross sales development, and the class is turning into a extra distinguished focus in the skincare market. “Skincare manufacturers are upping the ante, through the use of components like vitamin C, retinol, and algae which can be historically discovered in facial merchandise,” mentioned Jensen.Q2 has historically been the height promoting season for sunscreen, though gross sales have been rising year-round. In Q2, sunscreen gross sales grew by 51%, versus final 12 months.HairHaircare continues to be the smallest but fastest-growing class in the wonder market, with gross sales of $781 million, however the class is seeing a 24% improve. In Q2, gross sales income grew throughout nearly all segments, together with haircare, styling, and colour.In the primary half of 2022, clear hair manufacturers comprised nearly one-quarter of the hair class universe, which is a 5-point achieve from the identical interval final 12 months.Jensen mentioned, “Premiumization is occurring among the many three classes performing the perfect; whereas perfume and hair’s common costs are up because of shopper spending on higher-priced, luxurious gadgets, make-up—which has historically been probably the most promotional magnificence classes—is experiencing a pricing rise because of much less promotions.”

https://beautymatter.com/articles/just-the-numbers-us-prestige-beauty-grew-16-in-q-2-2022

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