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Beauty Market Growth Slows, As Split Between Affluent And Poorer Consumers Widens

April 4, 2014: 12:00 AM EST
The U.S. beauty and personal care market grew 1.8 percent last year, a slowdown from the 3.2 percent growth posted in 2012 and 4.3 percent in 2011. But these growth numbers mask a significant trend. There is a split in the retail world between moneyed and misfortunate consumers – and premium and mass market products – and it is evident in personal care and beauty. Affluent buyers tend to spend a lot of money on premium brand lipsticks, mascaras, and moisturizers. Sales in this sector grew 3.3 percent in 2013. Less well-off shoppers stick to mass brands, whose sales grew only 1.3 percent.
Claire Zillman, "The lipstick divide: In beauty sales, it's rich vs. poor", CNN Money, April 04, 2014, © Cable News Network. A Time Warner Company
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