Sales of cosmetics and toiletries in the US have risen above pre-recession levels. According to market research company Kline, sales figures for the market have grown 2.4 per cent to reach $36.5 billion in 2010, compared to a 0.8 per cent decrease in 2009.
Cosmeticsdesign.com reports that in 2010, skincare has remained the largest product class, accounting for 25 per cent of total industry sales.
The increase in sales has been attributed to rising consumer confidence, aggressive promotional activity and technological advances. The industry frontrunner was make-up, which registered a 4.4 per cent growth in sales. Bolstering this growth was nail polish, which was up by 20.4 per cent in 2010 due to new product activity.
Kline states that consumers influenced by economic uncertainties continued to be wary of their spending and chose to shop at outlets with competitive pricing. Consumers have also been shown to seek out products on sale. Despite these trends, the data is strong evidence to suggest that the industry is steadily recovering from the recession.