The United States is home to a 17.7 billion dollar prestige beauty industry. The largest segment is luxury makeup, which accounts for nearly half of all dollar sales in the market. Foundation is by far the top selling prestige makeup product, generating about 1.7 billion dollars in sales in 2018. Some possible reasons for this are that many cheaper foundations have limited shade ranges, or are not suitable for those who require their face makeup to look flawless all day long, which is not always possible with more affordable foundations. The product segment that experienced the highest level of growth is face primer, which is meant to prepare the skin for the application of foundation and prolong the wear of face makeup.
Luxury cosmetic brands, such as Lancome and Estée Lauder, are among some of the most valuable personal care brands in the world. Estée Lauder saw a substantial increase in sales between 2017 and 2018, growing from just under 12 billion dollars to just under 14 billion dollars over the course of a year. About 25 percent of Estée Lauder’s revenue is generated by makeup sales, making it the largest product category for the company.
Among Americans who purchase and use luxury cosmetics, Clinique is the most popular brand, with 44 percent of respondents of a recent survey reportedly owning at least one product from the brand. Some of the most recognizable names in luxury cosmetics in the United States are Estée Lauder, Clinique, Chanel, and Mary Kay. When asked about the distinguishing features of luxury cosmetics, 55 percent of U.S. women answered that the brand, the quality, and the price were the features that set luxury beauty products apart from the rest.
