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Luxury Beauty Snapshot Report 2009: A Trend Report on the Market for Luxury Beauty Products
Unity Marketing, Aug 2009, Pages: 32
There is powerful new evidence of the 'lipstick effect' found in the latest research into the luxury market. The 'lipstick effect,' a concept popularized by Leonard Lauder, chairman of Estee Lauder, states that during times of economic uncertainty, women will splurge on affordable luxuries such as lipstick as a substitute for more expensive items like clothing and jewelry.
With the 'lipstick effect' in full force in 2008, six of the top ten fastest growing luxuries purchased by affluent consumers for their personal use and enjoyment were in the beauty products space, as measured by the average amount spent on their purchases. That includes the fastest growing product of all: face care, cleansers, toners and moisturizers, which posted growth of 34 percent in the share of affluent consumer's average spending from 2007 to 2008. To learn more click link to the right to download the personal luxury biggest winners and losers.
These are among the important highlights of the luxury beauty products market detailed in a new report, entitled Luxury Beauty Snapshot Report 2009. This succinct trend report gives the busy marketer 'just the facts, ma'am' in order to help them assess opportunities and shifts in what beauty products affluent consumers are buying, how much they are spending overall and on a product level and trends in where they are making their purchases.
It includes details, facts and figures taken from Luxury Report 2009: The Ultimate Guide to the Luxury Consumer Market, which is based upon quarterly surveys among 1,000-1,200 affluent consumers (incomes $100,000 and above) conducted throughout 2007 and 2008.
Contained in this new concise snapshot report are these essential facts and figures that can give direction to luxury marketers' business and strategic plans.
- What beauty products are of most of interest to affluent consumers and how these items are trending year-over-year both in terms of purchase incidence and spending.
- Which demographic segments of affluent consumers are increasing their spending, and which are still cutting back on luxury beauty product purchases.
- Which retailers are the hot destinations for beauty products shopping, and which are still struggling to get into the game.
- Which of the more than 30 beauty brands included in the survey resonate most strongly with the affluent consumer, especially among the ultra-affluent segment (HHI $250,000) who are the most loyal customers for the leading luxury brands.
- What marketing messages affluent consumers find most attractive in the beauty sector.
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