2022
9
UK The Prestige Beauty Consumer Market Report 2022
2022-09-09T04:07:49+01:00
OX1102597
2195
155565
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Report
en_GB
“A combination of post COVID-19 recovery and rising prices due to inflation will boost the prestige BPC segment in 2022. However, a challenging economic environment will see consumers seeking out…

UK The Prestige Beauty Consumer Market Report 2022

£ 2,195 (Excl.Tax)

Description

UK The Prestige Beauty Consumer Market Report identifies consumers’ attitudes towards premium beauty products, the impact of the cost of living and innovations in the prestige beauty market.

 

Current Landscape of the Prestige Beauty Market

A combination of post-COVID-19 recovery and rising prices due to inflation will boost the prestige beauty market in 2022. Amid a challenging economic environment, many consumers will be looking to treat themselves to affordable luxury in categories such as skincare, haircare and fragrance, further boosting the segment.

However, Mintel’s prestige beauty market research indicates that inflation will accelerate savvy shopping habits, with shoppers trading down to lower-priced brands, but prestige brands can mitigate this risk by proving the effectiveness of their products compared with value alternatives.

 

UK Prestige Beauty Market Share and Key Industry Trends

A threat to the premium cosmetic market is that quality perceptions are not a given. Mass-market brands are working hard to draw comparisons with prestige ranges and eroding perceptions around the quality of the prestige BPC market. As consumers seek value solutions, such as discounted products or trade-down behaviours, the prestige beauty market can respond by providing purchase confidence, particularly money-back guarantees, if the product doesn’t meet expectations.

  • 46% of UK consumers purchase fragrances from prestige beauty brands.
  • 57% of UK adults purchase their premium beauty products in-store.
  • 47% of beauty consumers shop around for the best price before making a premium beauty product purchase.
  • 83% of beauty consumers would expect premium beauty brands to provide proof that products do what they claim.

 

 

Future Trends in the UK Premium Cosmetic Market

Leading with experience presents an opportunity for brands within the prestige BPC market. There is room for brands to invest in experience-led pop-up stores which place a focus on product sampling, professional advice and providing added extras that offer value in ways aside from price.

Mintel’s prestige beauty market research identifies that there is also ample opportunity to transform perceptions of prestige brands through driving the inclusivity agenda and communicating sustainability efforts.

To discover more about UK The Prestige Beauty Consumer Market Report 2022, read our UK Attitudes Towards Beauty and Grooming Routines Market Report 2022, or take a look at our extensive Beauty and Personal Care Market Research.

 

Quickly Understand

  • Impact of inflation on the prestige beauty market.
  • Launch activity and innovation in the premium cosmetic market.
  • Advertising and marketing activity in prestige beauty.
  • Usage and purchase of prestige beauty products.
  • Attitudes towards prestige beauty products.
  • Explores prestige beauty market size and prestige beauty market share.

 

Covered in this Report

Products: Premium beauty brands.  

Brands:  Lancôme, NARS, Clarins, Dior, Chanel, YSL, MAC, Illamasqua, Jo Malone, Fenty, Bobbi Brown, Caudalie, Dr. Andrew Weil, Trinny, Skin Diligent, Freck, MZ Skin, Karin Herzog, Agent Nateur, Commune Seymour, Manasi 7, Gisou, IRÄYE, Rodial, Estée Lauder, Shiseido, Coty, LVMH, L’Oréal, Puig, Kao, groupe Yves Rocher, L’Occitane, Giorgio Armani, Charlotte Tilbury, Alliance Boots, Tom Ford, Beauty Pie, Gucci, Kylie Cosmetics, Huda Beauty, The Ordinary, La Mer, Augustinus Bader, D’OTTO, John Lewis, Debenhams, Benefit Cosmetics, M&S, Selfridges, Oquist, Bad Habit.

 

Expert Analysis from a Specialist in the BPC Industry

This report, written by Maddie Malone, a leading analyst in the BPC industry, delivers in-depth commentary and analysis to highlight current trends in the UK prestige beauty market and add expert context to the numbers.

A combination of post COVID-19 recovery and rising prices due to inflation will boost the prestige BPC segment in 2022. However, a challenging economic environment will see consumers seeking out discounted products, or adopting trade-down behaviours. There is opportunity for prestige brands to instil purchase confidence through proving claims and offering a money back guarantee if products don’t meet expectations. Leading with experience will also enable prestige brands to provide a point of differentiation from budget-friendly alternatives, as well as offer value in ways aside from price.”


Maddie Malone
Beauty and Personal Care

Table of Contents

  1. Overview

    • Key issues covered in this Report
    • Market context
    • Products covered in this Report
  2. Executive Summary

    • The five-year outlook for prestige beauty
      • Figure 1: Category outlook for prestige BPC, 2022-27
    • The market
    • Prestige BPC resists economic concerns in 2021
    • Hand, body and footcare boosted by self-care agendas
      • Figure 2: Percentage change in value in prestige beauty and personal care categories, 2020-21
    • Companies and brands
    • Companies focus on improving existing products
      • Figure 3: Prestige, luxe and super-luxe BPC product launches, by launch type, 2019-22
    • Skincare dominates NPD
      • Figure 4: Prestige, luxe and super-luxe BPC product launches, by category, 2019-22
    • The consumer
    • Consider beautifying bodycare
      • Figure 5: Usage of prestige BPC, by category, 2022
    • Drive price integrity in the market
      • Figure 6: Purchase of prestige BPC in the last 12 months, 2022
    • Inflation accelerates savvy shopping
      • Figure 7: Prestige BPC purchase behaviours, 2022
    • Prove long-lasting claims
      • Figure 8: Purchase drivers in prestige BPC, 2022
    • Cater for research missions
      • Figure 9: Attitudes towards prestige BPC, 2022
    • Quality perceptions are not a given
      • Figure 10: BPC brand perceptions, 2022
  3. Issues and Insights

    • Savvy shopping poses a threat
    • Lead with experience
    • Assert quality through science and R&D
    • Boost eco and ethical perceptions
  4. Market Segmentation

    • Prestige outperforms wider BPC
    • Women’s haircare and facial skincare weather the storm
      • Figure 11: UK retail value sales of prestige BPC, by category, 2019-21
    • Focus on wellness supports hand, body and footcare
    • Recovery begins for colour cosmetics
    • Unisex fragrance sees a boost
  5. Market Drivers

    • Inflation is the key concern for consumers and brands…
    • …and will weigh down the post-COVID recovery
    • The conflict in Ukraine will hurt the UK economy
    • Consumers switch to DIY beauty
      • Figure 12: Post-COVID-19 changes to beauty/grooming behaviours, 2022
      • Figure 13: Example of DIY prestige beauty launch, 2021
    • Experts gain a greater voice
      • Figure 14: Trusted sources for beauty/grooming advice, 2022
      • Figure 15: Example of proving results in medicated skincare, 2022
    • Convenience is still a barrier to sustainability
      • Figure 16: Usage of and interest in BPC refill concepts, 2022
    • Economic concerns spotlight private label
      • Figure 17: Reasons for buying private label beauty/grooming products, 2021
    • The store drives discovery
      • Figure 18: Beauty/grooming new product discovery, 2021
    • Inclusivity gains a share of the conversation in BPC
      • Figure 19: Definitions of a diverse beauty brand, 2020
      • Figure 20: Example of an inclusive beauty campaign, 2022
    • Maximise on seasonal events
      • Figure 21: Channels used to purchase BPC gifts in the last 12 months, 2022
  6. Launch Activity and Innovation

    • Companies improve existing products
      • Figure 22: Prestige, luxe and super-luxe BPC product launches, by launch type, 2019-22
      • Figure 23: Examples of relaunch activity in prestige BPC, 2022
    • Skincare dominates NPD
      • Figure 24: Prestige, luxe and super-luxe BPC product launches, by category, 2019-22
    • Boost efficacy with lab-grown ingredients
      • Figure 25: Examples of prestige skincare launch activity, 2021
    • Spotlight expertise in NPD
      • Figure 26: Examples of expert-led launch activity in prestige BPC, 2022
    • Prestige brands focus on ethical claims
      • Figure 27: Top 10 fastest growing claims in prestige, luxe and super-luxe BPC product launches, 2020-21
      • Figure 28: Examples of eco-friendly launch activity, 2022
    • Focus on long-term hair and skin health
      • Figure 29: Examples of wellness-based prestige BPC launches, 2021 and 2022
    • Smaller players dominate NPD
      • Figure 30: Prestige, luxe and super-luxe BPC products, by top ultimate companies and other, 2021
      • Figure 31: Examples of launch activity from smaller brands, 2021
  7. Advertising and Marketing Activity

    • Total recorded advertising spend picks up in 2021
      • Figure 32: Total recorded above-the-line, online display and direct mail advertising expenditure on prestige BPC, 2019-22
      • Figure 33: Example of supporting application by Lancôme, 2021
      • Figure 34: Example of supporting application by Clinique, 2021
    • Online brands go offline
    • Brands focus on proving claims across channels
      • Figure 35: Total recorded above-the-line, online display and direct mail advertising expenditure on prestige BPC, by media type, 2019-22
    • Spotlight trending products on social media
      • Figure 36: Example of proving results via social media by Armani Beauty, 2021
      • Figure 37: Example of a brand spotlighting trending products by Nars, 2021
    • Maximise on seasonal opportunities
      • Figure 38: Charlotte Tilbury official beauty partner content for the Queen’s jubilee, 2022
    • L’Oréal leads advertising spend in 2021
      • Figure 39: Total recorded above-the-line, online display and direct mail advertising expenditure on prestige BPC, 2021
    • Nielsen Ad Intel coverage
  8. Brand Research

    • Brand map
      • Figure 40: Attitudes towards and usage of selected brands, 2022
    • Key brand metrics
      • Figure 41: Key metrics for selected brands, 2022
    • Beauty Pie benefits from value perceptions
      • Figure 42: Attitudes, by brand, 2022
    • Bobbi brown is viewed as fun
      • Figure 43: Brand personality – Macro image, 2022
    • Tom Ford Beauty is viewed as indulgent
      • Figure 44: Brand personality – Micro image, 2022
    • Brand analysis
    • Estée Lauder stands out as expert
    • Charlotte Tilbury is perceived as glamorous
    • Bobbi Brown is viewed as innovative
    • Tom Ford Beauty is seen as indulgent
    • Beauty Pie battles with low awareness
  9. Usage of Prestige BPC Products

    • Fragrance brands can consider shrinkage
      • Figure 45: Brand preferences in BPC, by category, 2022
    • Align scalp care with skincare
    • Consider beautifying bodycare
      • Figure 46: Example of beautifying prestige bodycare by Estée Lauder, 2022
    • Drive trade up amongst the 16-34’s
      • Figure 47: Usage of prestige BPC, by age, 2022
    • Cater for savvy shopping habits amongst the over-55s
      • Figure 48: Repertoire of prestige BPC product purchased (excluding base and colour makeup), 2022
      • Figure 49: Example of showcasing a range of demographics in advertising activity, 2022
  10. Channels Used to Purchase Prestige BPC

    • Stock a wide range of brands in-store
      • Figure 50: Purchase of prestige BPC in the last 12 months, 2022
    • Drive price integrity in the market
      • Figure 51: Example of a stand out prestige beauty launch, 2022
    • Make online prestige beauty more accessible
      • Figure 52: Purchase of prestige BPC in the last 12 months, by age, 2022
  11. The Prestige BPC Purchase Journey

    • Inflation impact drives savvy shopping
      • Figure 53: Prestige BPC purchase behaviours, 2022
    • Explain contrasts with value alternatives
    • Link to social media reviews
    • Detangle complicated ingredient lists
    • Online brands can innovate in pop-up stores for sampling
      • Figure 54: Example of prestige beauty pop-up store, 2022
    • Offer professional advice at the point of purchase
    • Cater for pre-purchase research amongst women
      • Figure 55: Prestige BPC purchase behaviours, by gender, 2022
  12. Purchase Drivers in Prestige BPC

    • Prove long-lasting claims
      • Figure 56: Purchase drivers in prestige BPC, 2022
    • Collaborate with fragrance brands
    • Enabling filtering by natural ingredients
    • Blur beauty with homeware
      • Figure 57: Example of a brand that focuses on packaging, 2021
    • Explain the science behind products
      • Figure 58: Example of research-focused prestige beauty launch, 2022
    • Appeal to a wider audience through proving claims
      • Figure 59: TURF Analysis – Prestige beauty, June 2022
      • Figure 60: Table – TURF Analysis – Prestige beauty, June 2022
    • Attract younger demographics with a quick-win approach
      • Figure 61: Interest in prestige beauty innovation, by age, 2022
  13. Attitudes towards Prestige BPC

    • Instil confidence through proving claims
      • Figure 62: Attitudes towards prestige BPC, 2022
    • Cater for research missions
    • Offset trading down through subscriptions
    • Lead with experience
    • Think outside the box with benefits
    • Focus on sensitive skin
    • Expectations are higher amongst women
      • Figure 63: Attitudes towards prestige BPC, by gender, 2022
      • Figure 64: Example of prestige beauty flagship by Glossier, 2021
  14. Beauty Brand Perceptions

    • Quality perceptions are not a given
      • Figure 65: BPC brand perceptions, 2022
    • Lead with innovation
    • Drive the inclusivity agenda
    • Emphasise research and development
    • Communicate value
      • Figure 66: Example of value-based advert from luxury/premium beauty brands, 2022
  15. Appendix – Data Sources, Abbreviations and Supporting Information

    • Abbreviations
    • Consumer research methodology

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

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Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

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