A Focus On Prestige This Quarter

The first quarter of 2023 is now behind us and “The Rebound and Growth” of the beauty business in Canada continues to dominate as consumers are back in stores and spending more dollars on beauty products.

In Canada, the Prestige beauty market grew +22% in Q1, Year over Year.

The HERO category this past quarter in Prestige Beauty was Makeup. Makeup regained its importance and was the fastest growing category in both dollar and unit sales. Demand was strong as ASP grew +6% for the MAkeup category.

Not far behind was the SKINCARE category which continued to grow with Sets and Sun products driving growth, but was the only category where ASP declined, down -1%

FRAGRANCE continued to grow in double digits in dollar and unit, with continuous growth in ASP.

HAIR continued to experience growth +11% in dollars vs. LY, but overall category growth has started to slow down for the first time since 2019.

With the HAIR category, Vegan Hair products grew by +12% in dollars and +5% in units in Q1. Cruelty free hair products grew by +9% in dollars and +4% in units in Q1 emphasizing the importance of clean and natural beauty. (Source: CIrcana POS Prestige Beauty).