I have a confession to make. I suffer from severe buyer’s remorse. Even if the product is something I know was worthy of the investment I still ration out how many Starbucks soymilk lattes that pair of shoes cost me. But, according to the September issue of Beauty Inc., I am not the only thoughtful shopper out there. In a survey done specifically for today’s edition of Beauty Inc. 79 percent of shoppers are paying more attention to price and 59 percent are willing to try products that are less expensive.
“The way we buy beauty products has changed fundamentally, and with the threat of a double dip looming, the transformation looks here to stay,” according to the WWD article.
What does this mean for the beauty industry, you ask? It means that women are now paying close attention to spending and are only making deliberate purchases and staying away from splurging. No more impulse shopping for the average American beauty consumer.
With impulse purchases down, it seems as if the drugstore niche has benefited from this new consumer attitude. Shoppers are now opting for “fill in” trips to drugstores for quickly buying those essential products that they know and trust.
Wendy Liebmann, chief executive officer and chief shopper of WSL Strategic Retail said “shoppers have accepted the new reality, and whether they are affluent or lower income, they are deter- mined to be smarter about how they spend.”
We don’t necessarily think this new attitude of shopping is a negative. Making thoughtful purchases will not only ensure that you love the products you buy, but it will only solidify your beauty routine. Do you agree? Have you noticed a change in your spending habits?
Read the entire article, entitled “The Anxiety Gap”,inBeauty Inc. out today.