The recent sales growth witnessed by Australia’s premium beauty category is largely down to gift-giving consumers, according to a report by Euromonitor International. The premium beauty category is predicted to grow by 2 per cent up to 2018, owed to the popularity of cosmetic kits and sets within the segment.
The analysis found individual consumers are not purchasing gift sets for personal use, rather they are being bought to give, suggesting room for the premium gifting category to grow even further.
In the premium segment, consumers typically will not purchase sets/kits for personal use, as they often include products which are not required,” Euromonitor notes. However, they become good value when bundled into sets/kits and presented as a gift.”
A pitfall of gift sets is that they often do not allow for choice in product selection, however, brands such as (The Body Shop NZ) are now helping implement systems where customers can customise gift sets.
Estée Lauder is highlighted as the category leader for beauty gift-sets, with an 11 per cent value share thanks to consumer-favourites (Clinique NZ), (M.A.C NZ), and (Estée Lauder NZ).
Euromonitor added that seasonal shopping is also driving sales in the category. The Clinique brand established a variety of offerings for the Christmas period based on specific needs such as High Impact Lashes, De-puff & Define Eyes and Happy & Smooth.”
