Whilst the use of prestige versus mass market cosmetics has been at the centre of many media disputes, Mintel’s latest research reveals that mass market colour cosmetic sales are set to hit £1 billion in 2014, with prestige sales additionally predicted to reach £552 million.
Today, 93% of UK women using colour cosmetics, total sales grew to £1.5 billion in 2013, an impressive 6% increase on 2012 sales which reached £1.4 billion. Notably, it is prestige sales which have seen the biggest growth, holding a 35% share of the market in 2013 (£531 million), up from 34% in 2012 (£491 million). Mass market’s share on the other hand has fallen from 66% in 2012 (£939 million) to 65% in 2013 (£986 million).
However, as savvy shopping behaviours continue in the beauty market – and innovation is matched by mass-market brands – the prestige share of the market is unlikely to see continued increases by the end of 2014. Prestige brands can encourage consumers to trade up with smaller size products, offering a more purse-friendly method of trialling products. Mass brands can also focus marketing communications on their product formulations, dissuading consumers that more expensive products are the only choice for advanced formulations.”
Within the prestige sector, showing their high-fashion credentials, it is eyebrow definers that top the colour cosmetic choice with one in five (22%) users choosing a prestige branded product over a mass-market or budget brand. Indeed, following on from the arches celebrated in the Game of Thrones TV series as well as the Cara effect, sales have been brow-raising. Sales of eyebrow products reached £28 million in 2013, an impressive 42% increase on 2012 sales which were valued at £20 million. With a quarter (25%) of UK women now using eyebrow definer, this growth looks set to continue with sales predicted to reach £31 million in 2014, gaining a 7% proportion of the eye colour cosmetics market.
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