Rising consumer confidence, aggressive promotional activity, and technological advances have propelled sales of cosmetics and toiletries in the United States by 2.4% to reach $36.5 billion in 2010 at the manufacturers’ level, according to recently released data from Cosmetics & Toiletries USA 2010, a study by worldwide consulting and research firm Kline & Company. After experiencing a 0.8% decline in 2009, the current increase has brought sales to above pre-recession levels.
While the industry showed signs of recovery, consumers influenced by economic uncertainties continued to scrutinize their spending, shopped at venues with competitive pricing, and sought out products on sale. The increased willingness to spend was captivated primarily by offers which provided extra value. Skin care kits, priced more favorably than individual products, and multi-functional products were among the core trends of 2010. Read whole article…
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