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Article: Are high-priced cosmetics really worth the price?(Anti-Aging & Cosmeceutical Corner)
- Article from:
- Household & Personal Products Industry
- Article date:
- October 1, 2006
- Author:
CopyrightCOPYRIGHT 2006 Rodman Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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THE GLOBAL PRESTIGE beauty market (defined as cosmetics, skin care, fragrances, hair care and sun care) is valued at $36 billion. Of that total, western Europe accounts for $14 billion and North America, $12 billion. (1)
According to NPD Group's beauty industry analyst Karen Grant, ultra premium skin care products (those priced at $150 and above) account for a meager 3% of the $2.2 billion prestige skin care market, but generate the strongest growth in the overall category, where the average price point is $32.50. According to NPD Group, prestige brands include La Mer, Natura Bisse', Kanebo, La Prairie and ReVive. Their peers include a host of dermatological ...