Value, purpose and "thoughtful consumerism" to shape premium and prestige beauty
Consumer price sensitivity is rising as global economic uncertainties continue, carving out a future of more thoughtful consumerism in beauty and a clear need for brand differentiation, say experts.Key Takeaways:Last year, premium and prestige represented close to half of the entire global beauty industry with a shared retail value of 335.91 billion USD–just behind mass at 343.03 billion USD, according to data analytics firm Euromonitor International. In 2024, premium beauty and personal care pr...