A decade of deluxe

Published: 21-May-2014

Imogen Matthews explores how the premium beauty market has changed in the past ten years, and asks what fresh ideas can we glean for the future?

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At the start of the 1990s, there was a complete lack of good market research and insight into the premium beauty markets. Having come from a market research background specialising in the UK beauty industry, I saw an opportunity for an annual report that tracked the premium beauty industry with authority. With the help of two good friends at Elizabeth Arden and Guerlain, we mapped out the first Premium Market Report. Launching first in 1993, the report grew year by year to become the 'industry bible', with contributions from industry experts and exclusive consumer research into consumers’ brand usage and shopping habits.

With research, it can be difficult to make sense of past trends and see their relevance to today’s markets. At my fingertips, I had all this data and insight stretching back decades and thought it would be interesting and valuable to look back through the last ten years of the Premium Market Report and identify key trends and events that have shaped our industry. 10 Years of Premium Beauty was the result, providing a detailed view of the past with fresh ideas for the future.

While many consumer markets and the global economy have been on a rollercoaster journey, the last ten years have been monumental for the UK premium beauty market, with sales doubling to over £2bn. Investment in new product development, the creation of new brands and retailing opportunities, and the evolution of beauty websites have all contributed to this growth. More importantly, consumers have developed a taste for premium brands, which have become much more than an occasional luxury and part of their everyday lives.

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