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Tuesday, March 19, 2024Market

Beauty's performance in 2024

Bilan et performances de la beauté en 2024

At its traditional Beauty Business event (held in Paris on March 1, 2024), the CEW France gave the floor to Circana (formerly NPD and IRI) to unveil the 2023 results for the cosmetics industry. The two-voice presentation, by Mathilde Lion and Emily Mayer, put into perspective a French sector that is lagging behind and struggling to catch its breath.

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~ 3 minutes

On a global scale, the beauty industry is doing very well,” says Mathilde Lion. ”Whether it’s prestige or mass retail, we’re seeing double-digit growth everywhere. But when we take a closer look, France is the ugly duckling, with 5% growth (-2% in units).”*

In detail, French cosmetics account for 13.6 billion in sales (all categories combined). The mass market absorbs 84% of units sold, but records a decline of 3% versus 2022.
The prestige segment is faring better, with a 7% increase in value compared to last year, but no improvement in unit sales. “This year’s winning channel in France is parapharmacy. We’re seeing more consumer demand and 12% growth compared to 2022.”

Focus on mass and prestige retailing

The mass market generates half of all beauty sales in France (49%), but it’s also the network that’s doing least well. With the exception of hygiene products, the various cosmetics families (skincare, fragrances, make-up, etc.) are rarely purchased by consumers.
This is due to the economic crisis that the country has been experiencing for the past two years. “Today, it’s important for shoppers to control their spending at the checkout,” comments Emily Mayer. “In this context, where inflation has peaked at …

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