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Report Shows Prestige Beauty Products Hit By Economy
Posted: September 2, 2009
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In addition to the uptick in men’s launch volume, premium price fragrance juices—prestige fragrances priced at $100 and above—rose 9% in dollars and 6% in units. Fragrance juices priced just under the premium price point ($75–99) also posted an increase, up 2% in dollars and 1% in units. These two components of the prestige fragrance category in first half 2009 continue to capture share of the market and account for almost 30% of prestige fragrance sales.
U.S. prestige skin care dollar sales declined 6% to $1.2 billion in first half 2009. Despite this being the worst first half for skin care in the past three years, the category had the softest losses of all beauty categories in terms of both dollars and units.
Set & kits and hair were the only segments to show positive dollar growth in first half 2009 with set & kits up 8% in dollars and 8% in units. hair, although modest, had an increase of 1% in dollars and 4% in units. Face, body and sun experienced a weak first half, down in both dollars and units. And while overall new launch dollar volume declined by 4%, with help from a drop-off in new eye product sales, there was an increase in new facial moisturizer sales. This category, which accounted for almost one-fourth of new product sales in first half 2009, posted a dollar increase of 2%.