Study reveals beauty buying patterns
This article was originally published in The Rose Sheet
Executive Summary
Market research firm SymphonyIRI Group set out to understand today's shopper and found "affordable health and wellness" the new beauty buzz phrase. "Affordability will continue to drive most shopping decisions," said Thom Blischok, president of global strategy and innovation for SymphonyIRI. For example, pricing impacted trial in cosmetics, with 27% of those surveyed only purchasing when there is a deal or sale. However, "people also want to look good and feel good," Blischok noted. In hair care, 27% of 1,000 respondents surveyed wanted products that enhance natural features. As a whole, consumers are taking a "trip route," meaning that they are searching for deals among different retailers. Twenty-five percent of respondents planned to trade down to lower-priced brands or channel surf for deals over the next six months, according to the firm