While the recession may have taught many women the delicate art of trading down, brand loyalty is alive and kicking in the beauty aisle. And a new report from market researcher Mintel finds that Baby Boomer women are especially devoted. While women are more likely to be looking for beauty deals online and in drugstores, a sizable minority is determined not to switch brands.
“There are grudge purchases, in which women are more than willing to trade down,” Kat Fay, senior analyst at Mintel, tells Marketing Daily. “For things like paper towels or bandages, women don’t care. But for beauty products, women are loath to change if they don’t have to. When times get tough, they might shrink their repertoire, for example, and buy fewer shades of eye shadow, but they are not giving up their brands of makeup and skincare.”
And their brand loyalty intensifies as they age. “More than a third of the women in the 35-to-54 age group say, ‘No, I am still buying the same brands as before the recession started,’” she says. Among older women, that percentage jumps to 41%.
But they are changing channels, and Mintel’s Beauty Retailing report reveals that 10% say they are using some type of online retailer to purchase cosmetics and skin care aids. And only 19% shop for beauty products in department stores, creating lots of opportunities for marketers who sell through drugstores and mass merchandisers.
One of Fay’s favorite examples is the success of Procter & Gamble Olay Professional Pro-X line, priced between $41 and $61—far more than other products sold in drug and grocery chains. “P&G has done so well with its Regenerist line that it is cleaning up with this,” she says.
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