Results from the NPD Group for Q1 2022 indicate prestige beauty is on a post-pandemic rebound, with sales revenue reaching $5.3 billion, a 19% increase versus Q1 2021.
"Makeup and hair products are the categories that have risen to the occasion in the first quarter, signaling that consumers are ready to get dressed up again," said Larissa Jensen, beauty industry advisor, The NPD Group. "Valentine's Day provided an additional lift to fragrance sales, which have enjoyed strong growth throughout the pandemic. Fragrance has become a mood-boosting luxury that people are buying not only as a gift for others, but also as a treat for themselves."
"The artistry brands are performing the best, and they're the largest piece of the business," Jensen told WWD. "That also includes influencer brands. They are the largest, in size, of makeup, so they represent the majority, and they're growing, and bringing the most volumes."
"Body was the only category in skincare that posted growth in 2020, and we're seeing that continue as people are going out more," Jensen said. "With sun, it's similar, especially as there is a lot more awareness around sun damage."
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