Strong growth for US and UK prestige beauty markets in 2013
The US and the UK continue to drive global sales of prestige beauty products, with an 8% growth of the prestige beauty industry in the US in the first six months of 2013 and a 6% growth of the UK market in the same time – according to market information provider the NPD Group. The prestige beauty industry in the US generated sales of £3.2billion (US$5bn) in the first half of 2013, while UK market revenue totalled £803million (US$1.2bn).
Sales in three of Europe’s other main markets continued to decrease, with a 3% drop in Italy and a 2% decrease in France and Spain. Despite the country’s on-going sales slump, the French prestige beauty market continues to outstrip its UK equivalent, with a £1.1bn (US$1.7bn) turnover in the first six months of the year. The Italian market generated £718m, (US$1.1bn) in the first half of the year, with £535m (US$831m) worth of sales in the Spanish prestige beauty industry.
Read the full article on page 9 of the September issue of the Professional Spa and Wellness digital magazine for FREE here, or access the digital magazine by selecting your chosen platform here.