Date Posted: Wednesday 30th November 2016
The market for the sale of prestige beauty products reported impressive growth post-Brexit, according to the NPD Group Inc., a global information company. Sales of prestige beauty products grew twice as fast, at 6% in the three months following the UK referendum to leave the European Union (July to September 2016) compared to just 3% growth from January to June 2016.
The greatest growth post-Brexit has been in the sale of niche fragrances (£125+) and super premium skincare (£200+), both of which reported double digit growth.
Most regions in the UK reported growth in sales of prestige beauty products with Midland and the East plus Yorkshire and the North East demonstrating the strongest areas outside London. However, it was in London where the greatest growth was reported and this was mimicked online
NPD Group in 'beauty, fragrance, grooming & health'