Higher income shoppers opt for private label cosmetics
Shoppers say quality and performance is on par with branded products
Higher income shoppers are proving to be thriftier than those with lower incomes when it comes to buying colour cosmetics, according to a new survey by Mintel. It found that 64% of women earning between $100k and $149k will buy store brand and private label cosmetics if they believe the quality is on par with branded products.
Only 50% women in the $50k - $74k earnings bracket said they would purchase own brand, while just 48% of women in the $75 - $99k bracket said the same thing.
“This does not mean higher income women say they are buying store brand/private label cosmetics more than they did last year,” explained Kat Fay, senior beauty analyst, Mintel. “But they can be selective, often spending more on one category or occasion than another.”
According to Mintel, 33% of respondents said they are buying private label cosmetics more now than they did last year, with 51% noting value as their main purchasing criteria.