Consumers are going back to the basics with their personal care products. While consumers are predicted to spend almost the same amount on personal care as they did in 2010, studies predict we will spend more on shampoo, toothpaste, deodorant and shaving cream and less on perfume, makeup and lipstick.
Also, the “ultra price-sensitive consumer” is growing at a rapid rate. Most 18 to 34 year olds racked up spending the past couple of years and are now in saving mode, with 40% or more saying that would switch brands to capture meaningful savings on that particular beauty product.
So I wanted to hear your thoughts. As a purchaser of beauty products, I do see the better bang for the buck model but I’m not so sure about going back to the basics, I can’t help but stop every time I see a bigger, fuller, longer eyelash promise
Are you going back to the basics? Have you switch from your old faithful cream cleanser to a more budget friendly alternative?
