According to Circana, the leading advisor on consumer complexity and formerly The NPD Group and IRI, sales of beauty brands in the UK are proving resilient to the rising cost of living that has forced many shoppers to change what they buy and ‘trade down’ from their usual brands. Prestige beauty products grew value sales by +13.5% and unit sales by +10%, in the year to end of August 2023 compared to the same period in the previous year, to £1.4bn.
Other consumer goods categories have experienced volume declines as consumers cut back on non-essential spending. Yet according to Emma Fishwick, Account Director for Prestige Beauty at Circana: “Prestige beauty is an exception in the consumer goods market. Skincare, makeup and hair segments are all growing in double-digits. In what seems like an act of pure defiance at the sacrifices they are making elsewhere in their shopping, consumers have extended the small lipstick treat that we typically see during a downturn to include other beauty segments such as skincare, make-up and haircare.”
Make-up value sales grew by +17% and unit sales by 11% (January to end August 2023) compared to the same period last year, buoyed by the wide availability of online tutorials by influencers on TikTok and Instagram.
“Consumers are much more informed about their make-up and skincare purchases,” continued Fishwick. “They are looking for make-up products that will help them conceal blemishes and redness as well as being good for their skin and emphasizing their facial features. The ultimate goal for these beauty buyers is to improve self-confidence and feel good and that is worth the self-indulgence of a premium beauty purchase.”
The aspirational looks that consumers aim to achieve from their makeup change every year. This year, Circana cites the ombre under eye trend, where different shades of concealer and blusher are applied under the eyes to create a glowing gradient effect that make the eyes brighter. These two segments are growing more than twice as fast as the makeup market overall. Concealers grew value sales by +35% and blushers by +60% in the last year; with unit sales up +26% and +46% respectively.
“Social media can provide an authentic platform for beauty brands, retailers, influencers and makeup artists to promote product features and benefits, educate through tutorials and further engage with customers,” added Fishwick. “The experimental, artisanal and playful nature of the makeup category can be easily demonstrated through social media and allows for more wide-spread adoption of trends such as the ombre under eye.”
