Research from Mintel has found that women are not buying as much lipstick in this tough economic climate, although other beauty products are proving more resilient.
THE LIPSTICK MUST GO
According to new research – when times are tough women tend to cut back on lipstick. The research from Mintel Beauty Innovation showed that the popularly held notion of the ‘Lipstick Effect’ – where women purchase lipstick as a “pick-me-up” in times of hardship is, in fact, doesn’t necessarily hold true.
The research was conducted in three countries, UK, France and the USA during economic downturn and it revealed fascinating insights into how female consumers were reacting in terms of beauty purchasing. Just 3% of women in each country said that they purchased a lipstick to make themselves feel better; with the same percentage giving the same answer for skincare, haircare and fragrance. In fact, lip colour came top of the list of cosmetic products women would be most likely to spend less on or stop using.
RESILIENCE OF THE BEAUTY INDUSTRY
However, the research also revealed the resilience of the beauty business as a whole. Six out of ten women surveyed in all countries reported no change in their beauty buying habits, despite the troubled economy. In addition, it seems certain products are able to weather the impact of a downturn. More than 60% of women in each country spent the same or more on their foundations and women in all three countries were most likely to spend the same or more on essential products such as shampoo and cleansers.
“It is a common perception that lipstick sales go up in times of economic adversity, yet this research reveals a very different picture. Haircare and skincare are actually the beauty categories where women are spending the same or more.”
Nica Lewis, head consultant, Mintel Beauty Innovation.
UK WOMEN LEAST LIKELY TO STOP TREATMENTS
It’s not just here in South Wales where we are spending less. Americans were most likely to cut back on beauty treatments by extending the time between treatments or switching to DIY at-home for facials, manicure/pedicure, waxing, blow-dry or hair colouring). Of users, 50% claim to have cut down on beauty treatment spending. On the other hand, women in the UK are least likely to stop having beauty treatments with only one in four claiming to have stopped going for treatments. And French women are the most frugal; they are most likely to switch from the salon to doing treatments at home.
This time around, with the world dealing with the effects of a global pandemic the beauty industry has taken a battering. With the world in lockdown many salons were forced to close, but demand remained. Some beauty consultants managed to keep things going by offering online consultations. Once activity returned to the high streets and beauty salons were finally allowed to reopen they were met with a tidal wave of custom as people dashed back to get their hair done. Both in the last economic crisis, then, beauty is seen as important, but women are more likely to take care of their skin and cut back on the lippy.
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