Around 45% of French people have had to cut back on buying beauty products this year, according to a survey conducted by NielsenIQ and reported by the country’s broadcaster BFMTV. The rising prices of perfumery products, which have increased by up to 30%, have been a major factor in this reduction in spending. Nihal Ambad, the head of sales at the French chain Passion Beauté, stated that only special promotions have been able to help the retailer maintain its sales.
The survey also revealed that 41% of respondents are actively searching for cheaper alternatives, while 13% admitted to making their own soap and shampoos at home. This figure increases to 21% among those under 35 years old. The most popular products for home manufacturing are facials, shampoo, and soap.
“To curb their spending on hygiene and beauty, the French first opt to buy less expensive brands such as private labels. They also make use of promotional tickets or reduce their frequency of shopping,” explained Claire Marty, the vice-president of Global Beauty Vertical at NielsenIQ. Marty added that the shift to remote working has also contributed to the decrease in beauty-care product consumption.
Despite these cutbacks, 55% of those surveyed stated that they will never stop buying cosmetics. Nail care was specifically mentioned by 45% of respondents. Facial cosmetics (80%) and varnishes (82%) were among the products that were highly favored by buyers.
These findings suggest that the French are seeking cost-effective alternatives and adjusting their beauty routines in response to rising prices. The popularity of DIY beauty products indicates a willingness to take matters into their own hands and prioritize affordability.
It is worth noting that the beauty industry plays a significant role in the French economy, and these shifts in consumer behavior could have wider implications. Companies within the industry may need to consider adjusting their strategies and offerings to cater to cost-conscious consumers. Additionally, retailers may need to focus on promotional activities and special deals to maintain customer loyalty and ensure continued sales.
As the pandemic continues to impact the global economy, it is likely that consumer spending habits will continue to evolve. The beauty industry, like many others, will need to adapt to these changes and find innovative ways to meet the needs and preferences of consumers.