The NPD Group Inc is predicting a bumper period for prestige beauty sales in the UK in the fortnight leading up to Valentine’s Day this year, especially for fragrances. In 2013, UK fragrance sales were up 9.3% year-on-year, with 1 million units of fragrances sold, generating £31.6 million in value sales over these two weeks alone.
Growth opportunity for UK fragrance market
“Valentine’s fortnight remains a key focus for prestige beauty products, with fragrance representing 2.7% of annual fragrance value sales and 3% of total beauty sales in the UK - beating both Father’s Day and Mother’s Day sales,” says The NPD Group.
The market research firm notes there is an opportunity for growth in the UK fragrance market when comparing sales in other key markets. “In France and the United States, 2013 Valentine’s fragrance sales represented 4% of annual fragrance value sales, generating just over £67 million and £81 million, respectively.”
Valentine’s drives sales across beauty category
Trend data reveals that while fragrance sales peak around Valentine’s Day, at 42% of prestige beauty products sold based on 2013 figures, sales are less concentrated at this time of year compared to Christmas. However, sales across all beauty categories rise during Valentine’s fortnight as consumers take the opportunity to buy something special for themselves, such as facial skincare or make-up, as well as for their lover.
“Men look set to be the winners in the fragrance stakes this year if the 2013 trend continues, with men’s fragrances for Valentine’s 2013 representing 35% of all fragrance value sales - up from 33% in 2012,” points out The NPD Group.
Savvy consumers hunt down best deals for Valentine’s Day
Data from Valentine’s 2013 reveals that consumers may become more price conscious with their fragrance purchases. On average, both women’s and men’s fragrance sales were down £1-2 on the annual average price at £33 and £31, respectively. Leftover Christmas gift sets were also popular for Valentine’s 2013 in the UK.
“As usual, we expect prestige beauty sales to peak around Valentine’s Day. This year, we predict that the Valentine’s fortnight boom trend for fragrance sales will continue, with the big brands creating the perfect setting for love in-store and online to leverage the growth opportunities in the UK market. Overall, we see that fragrance sales at this time of year are a key driver for wider beauty category sales as consumers treat themselves as well as their loved ones, with savvy consumers sniffing out the best deals,” commented June Jensen, Director for The NPD Group Beauty UK.