05 - 06 June 2024 in Munich CosmeticBusiness



11/04/2023 CosmeticBusiness

Prestige Beauty As a Comforter for the Soul

US Consumers Do Not Want to Reduce Their Beauty Spending Despite Inflation

With 27 billion US dollars, Prestige Beauty was the growth engine for the cosmetics industry in the USA last year. That's what market researchers at Circana, the consulting firm that emerged from the merger of IRI and NPD, found out. Another finding of the analysts is that seven out of ten cosmetics consumers who have reduced their overall spending due to inflation do not want to cut their beauty spending. The consultants conclude that when economic sentiment gets shaky, consumers turn to prestige beauty products for an emotional lift. Further information …

Adobe Stock, Alina
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