NPD develops store-level information service for prestige beauty market

PORT WASHINGTON, N.Y. Market research company the NPD Group has announced the launch of its first-ever store-level information service for the prestige beauty industry to help clients gain deeper insights into what’s happening within the prestige market.

“This store-level data gives our clients the ability to refine their sell-in strategies, discover regional opportunities, and understand how distribution and sales rates impact market share,” stated Diane Nicholson, president of beauty for The NPD Group. “Sharpening your view of the marketplace allows for an increased competitive edge and stronger margins — crucial factors particularly in today?s precarious marketplace.”

The data states, for example, that 1-in-5 dollars spent in the prestige beauty market come from either the Pacific or South Atlantic regions. The Pacific region has the largest dollar share at 22%. A total of 80% of the total prestige beauty sales came from five regions in the United States.

The Market View Current Conditions report is based on information gathered from participating retailers on a weekly basis. Market level tracking provides NPD’s clients with a monthly view of this data, aggregated at the regional level as well as the additional capability of viewing other geographies.