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NPD’s Larissa Jensen Speaks About the Latest Trends in Prestige Beauty

NPD’s Larissa Jensen Speaks About the Latest Trends in Prestige Beauty

Top performing categories; the biggest beauty story of the year; the promise of refillables; brick-and-mortar’s comeback—and more…

By Jamie Matusow, Editor-in-Chief, Beauty Packaging03.28.22
Larissa Jensen, Vice President, Beauty Industry Advisor, The NPD Group—and a member of Beauty Packaging’s Board of Advisors—shares her data, observations and predictions on the Prestige beauty industry, with Beauty Packaging’s Jamie Matusow.
 
How have beauty categories shifted over the past couple of pandemic-influenced years? Which category rose to the top in 2021, surprising all? Are Makeup and Skincare due for a shift? Which factors have been escalating hair care to new levels? 
 
Overall, innovation and mood-boosting launches are creating increased opportunities for new products—and consumers looking to spend on small indulgences.
 
“Prestige beauty in 2021 was a year full of surprises,” says Jensen. 
 
For example, total fragrance sales in 2019 were $4 billion, noted Jensen; and they were $2 billion in 2021 holiday sales alone.
 
She predicts global recovery in 2022 across Europe, Canada, and Mexico. Recovery will vary by category, region, and country, but beauty dollar sales through 2024 will remain elevated versus pre-pandemic levels.
 
Watch the video to learn more, including what Jensen says is the industry’s “glimmer of sunshine” going forward.
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