Consumers not persuaded by celebrity endorsed beauty products
The majority of global consumers are unwilling to pay more for celebrity endorsed beauty products, according to Euromonitor International.
As many as 66% of respondents in a 2013 survey by the market analyst said they were not prepared to pay a premium simply because a beauty product was associated with a famous figure.
According to the Celebrity Power and Its Influence on Consumer Behaviour report, 17% would be prepared to pay “a little” more and 16% “a lot” more.
The report did, however, find that younger consumers were more likely to be swayed by the pull of celebrity.
21% of respondents in the 15-29 age group said they would be willing to pay a small premium for celebrity endorsed beauty products, while 24% said they would consider paying twice as much.
Participants’ attitudes to products endorsed by celebrities also varied depending on geographic location. In France and Germany, a sceptical 83% and 84% respectively said they would not be willing to pay anything extra for celebrity associated products. Meanwhile, 26% of respondents in India said they were ready to pay up to double the normal price.