By Alessandro Carrara
The Ordinary said the ongoing cost of living crisis has resulted in the brand absorbing a portion of the increased operating costs internally
The Deciem-owned brand’s supply chain is currently under review for 2023
The Ordinary is set to raise its prices again in 2023, in response to the global cost of living crisis.
The new price adjustment across the business’ main product categories will come into effect on 1 January 2023, and rise to an average of US$1.12.
Its Natural Moisturizing Factors + HA will jump from $5.80 to $6.50, for example.
It comes after the Deciem-owned brand increased the prices of its skin care products in February 2022.
It was the first price hike in eight years, with inflation, supplier costs and employee pay rises being attributed to the price change at the time.
“As the world continues to face rising costs, it's important that we review all areas of our business, to ensure we are able to operate sustainably and responsibly long into the future,” the brand said in an Instagram post.
“This is the way we will bring good products at sensible price points to many more people around the world — and how we will continue to take good care of our team.’
The Ordinary said it has absorbed a portion of the increased operating costs internally, by adjusting its operating model and streamlining low volume categories such as colour.
This includes discontinuing its foundations and concealers in the new year
, after admitting its make-up range hadn’t garnered enough fans to make the cost of production worthwhile.
It also plans to review its supply chain and optimise it in the new year.
While the brand continues to explore cost cutting measures, it has still been able to reduce prices across some of its product range.
The Ordinary’s Niacinamide 10% + Zinc 1% serum will change from $6.50 to $6 USD from 1 January 2023.
“We value you, the community that shapes us, and welcome all thoughts and questions around this upcoming change in the comments,” The Ordinary added in the Instagram post.
The Ordinary’s price hike comes after the Inkey List revealed it is also raising its prices from 1 January 2023 due to inflation
, Covid-19 and the rising cost of materials.
Product prices will increase by £1 to £3.50 in the new year.
The rising costs of materials, raw ingredients, energy, fuel, labour and packaging were cited as additional reasons for the increase.