Cosmetic And Skincare Market Is Improving, But Shoppers Remain Frugal

Market researcher Mintel says the recession had a dampening effect on the cosmetic and skincare market, as women backed off “splurge” purchases and spent more time comparison shopping and looking for sales. The market is improving but the frugality trend continues. In 2009, 33 percent of shoppers surveyed said they only made replacement purchases of color cosmetics and avoided splurging, but that figure dropped to 27 percent in 2010. Mintel says women spend a lot of time on the Internet researching prices and products and continue to purchase most of their cosmetic and skincare products at mass merchandisers and drug stores, because of the wider array of branded products and competitive pricing.