UK prestige beauty sales rise 4% to £3bn
Sales of prestige beauty products grew 4% to reach £3billion in 2017, boosted by the weak pound, according to analyst The NPD Group.
Within the prestige beauty sector, prestige skincare saw particularly fast growth, rising 6% last year.
Classic and super-premium brands drove that boom, with natural and vegan brands demonstrating a clear importance for the future, despite being small at present.
Make-up also saw 6% growth, to reach £900 million in 2017. However, that was considerably slower than the double-digit 10% growth reported in 2016. Foundation and lip products remained at the forefront of the make-up market’s growth.
NPD UK Beauty's senior account manager Helen Duxbury, said: “The growth we have seen in the UK prestige beauty market is impressive, given the uncertainty with Brexit and the weak pound. From the figures we have seen in 2017 there is a definite boom in the prestige beauty market.
She added: "Make-up and super-premium skincare are a real attraction for overseas visitors, especially from Asia, as they include many designer and luxury brands. Whilst the weak pound confirms our thoughts that the global shopper is boosting the prestige beauty market, UK shoppers continue their love affair with prestige beauty in all categories.”