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Prestige Beauty Sales Surpass $4 Billion in Q3

When it comes to prestige beauty, business is booming.
According to data from the NPD Group, U.S. prestige beauty sales reached $4.1 billion in the third quarter, a 7 percent year-over-year increase. Makeup was the largest, but slowest-growing category, up 1 percent to $1.9 billion, with skin care following at $1.3 billion, up 15 percent. Fragrance sales increased by 6 percent to $783.6 million, and hair was up 27 percent to $176.7 million.
“The big story for the third quarter is the acceleration in skin care, which is growing more than twice the rate of fragrance and 15 times faster than the rate of makeup,” Larissa Jensen, beauty industry analyst at NPD, said in a statement. “We continue to see natural brands and entry-price categories fuel the skin-care category, but the big shift this year is the renewed interest in new products from legacy classics in the antiaging category. With consumer confidence breaking records, the two highest-priced beauty categories of skin care and fragrance may be reaping the benefits of a bigger wallet. Despite the success of its sister categories, makeup continues to struggle, being the most impacted by a highly fragmented marketplace.”
In makeup, face sales grew by 2 percent, driven mainly

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Via:: https://wwd.com/beauty-industry-news/beauty-features/prestige-beauty-sales-surpass-4-billion-1202897329/