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Category-level contrasts are telling in terms of how consumers are shopping across mass and prestige retailers.
March 22, 2023
By: Melissa Meisel
Amassing $30 billion in annual retail sales in the U.S., beauty product sales at mass merchants accounted for the majority of sales across most beauty categories last year. However, the $27 billion prestige beauty business—including department and beauty specialty stores—has been the growth engine for the industry, with both sales revenue and unit sales growing faster in prestige than mass in 2022, while also experiencing the softest price increases, according to Circana (formerly IRI and NPD...
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