Even though the economy has been wavering lately, Americans have proven their penchant for looking pretty, and if the numbers are any reflection, it looks like we are prettier than ever this year.
SymphonyIRI teamed up with the NPD Group to create the Beauty Cross Channel Monitor, the U.S. beauty industry’s first and only point-of-sale tracking product. It examines both high-end department store sales as well as supermarket and drugstore makeup sales. What it found was surprising: despite rising food and gas prices, Americans are happy to part with even more of their wallets to buy their favorite beauty products.
Earlier this year, NPD’s Economy Tracker found that 35 percent of consumers planned to maintain or increase their spending in cosmetics and fragrances for first quarter 2011. In 2010, that number was only 33 percent. These shoppers stuck to their plans, buying more makeup, perfumes and skincare products.
This new data reaffirms the lipstick phenomenon the United States saw after the economic uncertainty following 9/11, when consumers were buying more, less expensive luxury goods. Though fur coats and Lamborghinis were collecting dust, less expensive luxuries like fancy lipsticks and perfumes were flying off the shelves.
So read these glossy red lips: The 2011 beauty trend is here to stay.
