The cost of living crisis is encouraging consumers to buy bigger for better value. But what does that mean for beauty brands and their suppliers?
According to the market analyst, UK sales of both supersized and potent formula prestige beauty products grew 23% in the first half of 2022, versus the comparable period in 2021 to reach £926m.
Total sales of women’s fragrance juices (comprising eau de toilette, eau de parfum and perfume) over 100ml in size rose 50% in H1 2022 compared with the prior year period.
This growth significantly outstripped the wider market for women’s fragrance, which grew (a still impressive) 34%.
At the time, Emma Fishwick, Account Manager at NPD UK Beauty, said that “people are seeking better value for money, and larger sizes and more potent formulas are more cost effective to buy”.
Talking to Cosmetics Business, Fishwick adds: “Larger formats traditionally offer value for money to the consumer, and given the cost of living crisis and consumers’ purse strings being tightened, purchasing a larger format will result in replenishing less frequently therefore offering a decrease in total cost over time. ...
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