Ongoing innovation will remain the key to maintaining the premium segment’s growth momentum, especially in view of persistent economic uncertainty and consumer cautiousness in their spending, which could see many Americans choosing mass brands instead, a trend also supported by innovation and “dupes” in the mass segment. At the same time, higher-income consumers will continue to favour premium quality, but will certainly pay close attention to efficacy and ingredients as well as appreciating personalised services based on specific needs, for which they are also prepared to pay more.
Inclusivity and community building for beauty with purpose will gain momentum in premium space, especially with respect to younger and more community-minded consumers. This trend will go beyond messages and PR campaigns and is expected to also manifest itself in product development.
While the metaverse has recently become a somewhat controversial platform for engagement, brands across consumer goods, including beauty and personal care, continue to tap into this resource to engage consumers and enable more product experiences in the world of evolving tech. Taking it a step further, L’Oréal, for example, has recently announced investment into the Digital Village – a US-based metaverse-as-a-service platform and NFT marketplace.
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Understand the latest market trends and future growth opportunities for the Premium Beauty and Personal Care industry in USA with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Premium Beauty and Personal Care
This is the aggregation of premium colour cosmetics, fragrances, deodorants, skin care, sun care, baby and child-specific products, bath and shower and hair care.
See All of Our DefinitionsThis report originates from Passport, our Premium Beauty and Personal Care research and analysis database.
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