Median product prices in the beauty and personal care sector grew 1.8% in recent months, according to Euromonitor International, which has introduced a new pricing intelligence solution, Via.
The system extracted and analyzed the data in the U.S. beauty and personal care market from December 1, 2019 to February 1, 2020. The survey found:
- L’Oréal Groupe had the most beauty and personal care product SKUs, with median price growth of 4%.
- Amazon offered the most beauty and personal care SKUs tracked in the United States—more than 15 times the number of beauty and personal care SKUs offered by Ulta.
- Amazon offered nearly 70% of the beauty and personal care product SKUs tracked in the US.
Via is capable of tracking more than 15 million stock keeping units (SKUs) from online retailers, providing updates on price changes and product attributes across 11 consumer goods industries in 40 markets.
“The growth of e-commerce across the global retail environment can’t be ignored,” Lee Linthicum, research director at Euromonitor International, said. “As more businesses go online to find their consumers, this creates unprecedented opportunities to gain deeper, actionable and real-time insights into their product assortment and pricing mix at a category, brand owner, brand and individual product level.”
“This product launch marks Euromonitor International’s move into the tactical data space, combining over 45 years of industry research expertise with advanced data science and AI techniques,” Mike Jozwik, vice president of consulting at Euromonitor International, said.