Mintel picks out top two product trends in cosmetics
The market research firm said cosmetics companies are inventing new product concepts to appeal to increasingly price conscious consumers.
"Cosmetic companies are quickly responding to the needs of the Recessionista,” said Taya Tomasello, senior analyst for Mintel Beauty Innovation.
“Effective and affordable multi-use products and products offering convenience allow women to continue using their favorite brands, but at a reduced cost.”
Multiple benefits and uses
Products that claim to have multiple benefits and uses are becoming particularly popular, according to Mintel.
One such example is Clinique’s Youth Surge SPF 15 Age Decelerating Moisturizer, which claims to offer anti-aging, sun protection, and skin repair and strengthening effects.
Another more unusual example that Mintel had on show at in-cosmetics in Munich last week is 3-Some, an organic men’s product from N8B, which is a shaving foam, face cleanser and body wash.
Convenience
As well as marketing products that offer to do more for less, beauty firms are also concentrating on the convenience trend.
Mintel said that as many as one in four skin care products launched in the first quarter of 2009 had convenience claims.
One example is Johnson & Johnson Clean & Clear Facial Cleansing Wipes that come in a portable plastic package and claim to instantly dissolve dirt, water and make-up without the need for water or rinsing.
Mintel expects these convenient and multi-functional products to perform best this year as consumers look to scale down on their cosmetics spending but nonetheless get the most out of their purses.
“Beauty products that give budget-savvy shoppers a feeling of control and confidence are best poised to do well in 2009,” said Taya Tomasello.
