UK outshines Europe in prestige beauty market
The UK's prestige beauty market experienced a 10% growth in the six months to June 2011 despite the economic downturn. Meanwhile the European beauty market as a whole struggled to achieve growth, according to the latest data from market analyst NDP. This increase in premium beauty sales in the UK was indicated in the fragrance, skincare and make-up categories, which have risen 14%, 8% and 7% respectively. In mainland Europe, France and Italy only experienced 1% growth, while Spain averaged 0% after its make-up and skincare market decreased by 3%. The UK has the lowest priced premium beauty products across Europe, creating less of a barrier for consumers to trade up from mass market products to luxury beauty. Other contributing factors to the UK's success include profitable re-launches of top brands, increased promotional activity and a higher number of new launches compared to other markets. June Jensen, manager for NPD Beauty UK, believes the secret to the UK's success lies in a successful retail model. She said: 'In the UK, premium beauty products tend to be sold in department stores where consultants offer consumers a personal service that makes the purchase feel special. All this is in stark contrast to France, Italy and Spain, where the model tends to be self-service in chain stores.' The prestige beauty market is also thriving compared to the more affordable end of the market. The prestige market grew by 10% compared to the mass market growing only 1%.
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