Still opportunities in mass market beauty, conference speaker claims

Speaking at the NPD Hot Off the Press Beauty Industry Event, held in New York City yesterday, IRI beauty expert John Deputato said that new shopping patterns could create new niches for personal care manufacturers to take advantage of.

In his presentation, Deputato gave four specific examples of how players can tap into opportunities in the mass market segment, which are likely to emerge under the present economic conditions.

Stretching the beauty dollar spend​

Deputato’s main emphasis is that consumers are changing their spending patterns on beauty products to stretch their dollar spend.

Already there has been a marked downturn in the prestige beauty segment, generally recognized as one of the first areas where consumers start to cut back when their spending power is diminished.

In the presentation, Deputato underlined how consumers are extending product usage, looking for multiple use products, selecting product alternatives, sharing products at home and using in-home beauty treatments as a means of stretching their beauty dollar.

Tapping into new trends in 2009​

The challenge for manufacturers and marketers will be to tap into these new consumer trends during the course of 2009.

In the fast-moving world of cosmetics and personal care, this will mean implementing new and highly targeted market campaigns with maximum speed.

In short, Deputato recommends that personal care players should be close to implementing any plan of action to tap into these trends, as reaching out to the market with speed will be make or break.