Innovation driving increase in global prestige lip sales - NPD
US prestige lip sales totaled $665mn for the period, with lip color sales growing 16% and lip liner sales up 10%. In the UK, where lip color sales grew 11% and lip liner sales were up 7%, total prestige lip sales stood at £70mn. In both markets, lip gloss sales were down 3%.
In the 12 months to August 2013, prestige lip sales in France grew 1%, while those in Italy and Spain were down 4% and 2% respectively.
Innovation driving market growth
Karen Grant, vice president and senior global industry analyst at NPD, told CosmeticsDesign.com USA that innovation is driving the increased spend on lip products in the UK and the US.
“Consumers are responding to the new introductions offering combined benefits of rich color, moisturization and shine,” she said, noting that lipstick and hybrid lip products are proving the most popular sub-categories.
Grant added that while product innovation is a key driver of current market growth, new packaging options and new high impact marketing initiatives, such as the MAC-Rihanna (RiRi Hearts MAC) collaboration, have been very successful in driving consumer interest and the willingness to spend.
She highlighted that top brands bringing innovation to the lip category, “vary from makeup artists to legendary cosmetic brands, to top European designer names.” According to Grant, Clinique Chubby Stick, Chanel Rouge Coco Shine and YSL Rouge Pur Couture Glossy Stain are top lip hybrids.
Consumers willing to spend more
The average price spent on prestige lip color products increased in all five markets surveyed between September 2012 and August 2013, the NPD research reveals. The biggest increase was in the US, where the average spend jumped 5% to $22.
“US consumers are clearly willing to invest a little more in products that will deliver the look they want, and it goes beyond just lipstick, carrying over to liner, application tools, and all-in-one lip products,” said Grant.
“Throughout Europe, sales of lip products are outperforming relative to units sold, especially in lip color, so this is a phenomenon across the pond as well,” she added.
