Circana data shows that Black-founded beauty brands have outperformed the rest of the U.S. prestige beauty market throughout the month of February for the past two years.
Circana data shows that Black-founded beauty brands have outperformed the rest of the U.S. prestige beauty market throughout the month of February for the past two years.
CEW has curated some of the industry’s top experts and analysts for its annual virtual program 2024 State of the Industry: Global Trend Report.
Circana On Beauty’s Growth Streak; Sugared + Bronzed Expands; Chapstick Bought By Yellow Wood Partners.
U.S. prestige beauty dollar sales grew by 14%, year over year, while mass market beauty sales experienced a dollar increase of 6% for the same time period.
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The U.S. beauty industry, inclusive of mass and prestige, has experienced consistent double-digit dollar growth over the past year. But Circana’s Larissa Jensen says the resiliency of the prestige beauty consumer will make prestige beauty the standout in 2024.
Makeup grew the most in sales; skin care grew the fastest in units; value is driving fragrance.
Flowers and candy might reign supreme as go-to Valentine’s Day gifts, but fragrance has carved a place for itself as a fan favorite.
Preliminary results are in for beauty’s overall performance in 2022, which was fueled by prestige beauty and sales of makeup, namely lip products. Sales of beauty products (mass and prestige) experienced 11% growth when combined; however, only prestige unit demand remained strong.
