As prices soar, consumers are forced to cut back on some of their spending. At the Cosmetic Environment and Safety Congress, organized by Cosmetic Valley in Vaudreuil on July 4, 2023, Claire Marty (Beauty and Personal Care Industry Expert, NielsenIQ) explained how the French have adapted their consumption of beauty products and what their expectations are of brands.
“Inflation is currently very high. This means that the average shopping basket will increase by almost €1,000. This sum represented what was left in the pockets of France’s least affluent households at the end of the year,” Claire Marty begins.
Rising prices have led to a change in consumption patterns for nine out of ten households.
In response to the economic crisis, some French people are limiting their purchases of essential products, and are also cutting back on cosmetics. “This arbitration on hygiene-beauty spending increased by two points between December 2022 and April 2023.”
Generally speaking, the expert explains that there is a real trend towards deconsumerism in the beauty sector. Consumers are buying less, and more frequently. “We’re also seeing a move downmarket. The French are turning to less expensive, less premium cosmetics. However, certain ‘pleasure’ categories are being spared, such as make-up and perfumes.”
Retailers are responding to this trend by reducing the beauty offer on their shelves.
In the space of a year, 162 references have been lost in stores. “Distributors have run out of patience. If they see that sales are not up to scratch, they eliminate the weakest links. This means that innovations must perform …
