Sales decline in UK prestige beauty market
Hopes rest on increased consumer spend in run-up to Olympics
Hopes that the UK’s premium beauty sector is recession proof have been dashed with sales figures to the end of May showing significant declines in both the skin care and fragrance segments compared to the same period last year, according to the latest research from NPD Group.
Although the total volume of unit sales declined 0.6% year on year, partly explained by retailers offering fewer promotions in 2012 than in the same period last year, the prestige beauty market increased 2.5% in value to £106m compared to 2011.
The skin care segment was hardest hit, falling 3.9% in value and 6.4% in volume, with premium skin care brands with an average selling price above £100 currently experiencing the strongest decline.
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