According to figures from Circana, the U.S. prestige beauty industry sales revenue grew by 9 per cent in the first quarter of 2024, compared to the same period in 2023. In comparison, mass market beauty sales experienced a year over year increase of 2 per cent. Within the prestige channels, fragrance was the fastest-growing category based on sales revenue. It grew by 13 per cent. Gift sets increased sales by 22 per cent, travel size sets reportedly grew at double the rate of traditional full-size sets. While the fragrance category is experiencing a trading down in terms of price, with the growth of travel- and mini-sized products, there is simultaneous growth happening in the luxury sector with units sold growing at more than double the rate of the remaining prestige market in Q1, according to the figures. Further information ...