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Prestige Beauty Takes a Dip

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By: Jamie Matusow

Editor-in-Chief

Historically, according to The NPD Group, Inc., a leading market research company, the beauty industry has weathered store closings, recession and war, with strong sales. But the 2008 economic down turn proved different. It was the first year, reports NPD, that each beauty category truly struggled and total prestige beauty sales fell 3% versus 2007. Overall decline was influenced by a sharp drop in fragrance, which reached $2.68 billion, a decline of 6% in 2008. One bright spot: sales of higher priced gift sets ($60-$100). In addition, while new fragrance launch activity was down in total, stemming from the 20% drop in men’s new launches, women’s new fragrances posted a 9% gain in 2008, due to, according to NPD, new brands like Viva La Juicy, Estée Lauder Sensuous, Ed Hardy, and Harajuku Lovers. According to NPD, the top five fragrance brands in 2008 were Acqua Di Gio Pour Homme, Beautiful, Coco Mademoiselle, Light Blue and Chanel No. 5.

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