Discounting has negative effect on consumer buying habits
More female consumers are waiting for premium beauty products to be discounted before they buy, according to this year’s Premium Market Report.
The report, from analyst Imogen Matthews Associates, created in association with YouTube, showed that the percentage of women who say they will only buy when there’s a discount has increased from around a fifth in 2013 to over a quarter in 2014.
Those brands that resisted discounting are now in a much stronger position than those that didn’t.
The percentage of women who believe cheaper brands are just as effective as their more expensive counterparts has also increased from 37% to 44% since 2013.
However, the percentage of women who said they prefer purchase beauty products in-store or in a salon rather than online has increased from 35% to 39%.