Definition:
The premium cosmetics market consists of high-end, prestige beauty products that are marketed to consumers seeking luxurious formulations and packaging. These cosmetics aim to enhance one's appearance through the use of expensive, high-quality ingredients, and advanced technologies. They are sold at premium price points, often several times more than drugstore brands. Customers attracted to this market desire products created by elite brands with an emphasis on artistry, science, and innovation in skin care, makeup, fragrance, and grooming.
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