Premium Segment Recovery in Beauty and Personal Care
Irina Barbalova, Head of Beauty and Personal Care Research at Euromonitor, discusses current global consumer trends for beauty and personal care. Beauty and Personal care sales grew in 2010, with consumers returning to premium cosmetics for the first time since the recession. This was mainly due to product innovation in the premium segment. In fact, all regions that saw a fall in premium cosmetics in 2009 recovered in 2010.
Hi-tech innovation provided the backbone for the premium segment recovery, and that innovation spread to private label and mass segments, which provide consumers with a better value for the money.