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Stability Stays Prevalent in Premium Cosmetics Market
Posted: September 19, 2013
Euromonitor International has released an infographic on "Strategies to Succeed in the Fast Evolving Premium Beauty Market," breaking down the value shares of the premium beauty industry's top 10 players and offering information on how the market currently stands.
Premium cosmetics are recovering following a difficult period at the onset of the economic downturn. These players often focus on brand experience through high tech, targeted and more customized innovation while increasing the scope of consumer interaction with the brands, both in store and in the digital space.
According to the infographic, the top 10 premium cosmetic players accounted for 62% of the market in 2012, and half of those companies are only focused on premium cosmetics, as opposed to mass and premium. These companies are led by Estée Lauder, which accounted for a third of global premium market value in 2012. And while the top 10 have been fairly stable, companies such as Amway have been able to break in.
Euromonitor feels the reason for the stability in this marketplace is due to competitiveness being more focused on resource consuming, as premium beauty brands are expected to add considerable value in terms of marketing and innovation in order to distinguish themselves in the market.