Women's Reactions to the Recession - Beauty and Personal Care - UK - June 2009
Since 2008, the state of the economy has dominated consumer thought. Rising redundancies and falling interest rates and property prices have impacted on people’s sense of security. Despite government efforts, there is evidence that people are prioritising spend, putting money into a rainy day fund as a safety net for money troubles or possible redundancy in the future.
Women are more likely than men to be worried about the state of their personal finances and this is shaping their usage and purchasing habits of beauty and personal care products. This report seeks to establish whether this presents a concern or an opportunity to companies and retailers operating in the beauty and personal care space. This report assesses how women have changed their beauty routines and how they regard the beauty products they buy against the backdrop of money worries.
This report seeks to:
Understand consumer reaction to the recession and how the significance of money worries impacts on the way in which they use and buy beauty and personal care products.
Examine which sectors are most vulnerable to trading down or being dispensed with altogether.
Identify opportunities in the market that respond to consumer concerns and demands.
Develop best practice strategy to survive the economic downturn.
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