Most prestige brands are dependent on a select number of iconic products for a large percentage of their sales.
That’s a good thing in normal times and even more of a plus when consumers are being more careful about their spending and unwilling to take a punt on products they haven’t tried before.
New research from Data Luxury Group (DLG) centres on the analysis of 28 leading prestige beauty brands with skincare as their core offering.
Skincare sales have been a bright spot during global lockdowns, but the trend of taking better care of the skin has been very evident for some time.
According to DLG, online skincare search volumes have surged 51 per cent over the past three years.
Building a strong brand based on consumer loyalty really pays off, says DLG.
Brand and specific product key words represented 58 per cent of monthly average search volumes in 2019 – a percentage that includes misspelled brand or product names.
More importantly, although indie brands have shown the most online search growth since 2017, global household name beauty brands owned by major multinationals such as Estée Lauder, L’Oréal, Coty, Unilever and more still represent the vast bulk of search volumes for prestige skincare.