Looking Good in Difficult Times

According to a recent consumer survey released by leading market information company The NPD Group, Inc., many consumers are scaling back spending on discretionary items due to factors ranging from rising gas prices to war worries. However, they are least likely to alter spending this spring on products affecting their appearance: cosmetics, skincare and apparel.

Overall, seventy-six percent of consumers said they are “being careful” about their discretionary spending and 41 percent of consumers said they plan to spend less than usual over the next three months. Cosmetics and skincare are the most resistant to spending reductions of all the 17 product categories tracked in the NPD survey. More than half (55 percent) the consumers surveyed said they intend to spend the “same as usual” on cosmetics and skin care products over the next three months.

“Now more than ever, men and women of all ages want to look and feel good and they’re not willing to give this up even during times of instability and war,” said Timra Carlson, president, NPD Beauty division of The NPD Group. “Consumers will continue to pay for prestige makeup and skincare products, however we have found that economic cycles will affect fragrance sales.”