A new global study across seven countries and three continents by Avon has revealed huge numbers of women around the world are giving up their favourite beauty products due to the cost-of-living crisis with “9 in 10 women giving up non-essential items.”
The study found:
– 98% of women globally have been affected by the cost-of-living crisis, with 92% forced to give up non-essential items including eating out, holidays, new clothes and manicures.
– One area particularly affected is cosmetics, with a quarter of women (25%) globally giving up perfume and one in five women choosing to go without makeup (22%) and skincare (19%) products.
– Nearly two thirds (59%) of women have switched or would switch their makeup, skincare and fragrance to cheaper alternatives.
– Over a third of women (38%) have given up their favourite branded products this year in favour of cheaper alternatives.
The findings come from a global study of women across eight countries and three continents, as beauty giant Avon and its team of scientists and experts discover just how women are being affected by the cost-of-living crisis – and how the brand can help. “Proudly democratic and accessible, Avon creates high quality products with reliably affordable price tags. What’s more, five million Avon Representatives around the world make the most of the opportunity to work, learn and earn on their own terms.”
The side hustle era
4 in 5 women (80%) worldwide have or are considering taking up a side hustle to help with the cost-of-living increase. While over half of these women (54%) are doing so to help pay their bills, one in three women (36%) want to be able to afford the little luxuries they used to have, such as takeaway meals, coffees and new clothes. A fifth of women (21%) want to continue being able to buy their favourite beauty products.
Avon provides an attractive solution and, for its new generation of Representatives, has made a number of enhancements to its relationship selling model to provide further flexible opportunities to grow financially.
This includes digitising its business model, with an improved mobile user experience which allows Representatives to easily connect with their customers and sell online through the Avon On app. Avon has also created an industry-leading, personalised compensation model, Avon Rewards, that starts from the very first sale.
The choice between quality and affordability
Avon’s research into the cost of living also reveals the commonly held misconception that products with a higher price tag are higher quality.
Over two thirds of women (69%) around the world believe that more expensive makeup products are higher quality. This increases to 71% for perfume and 73% for skincare. However, fewer women believe the same rule applies to clothes (62%).
In a bid to hold on to life’s little luxuries, nearly two thirds (59%) of women globally have switched or would switch their makeup, skincare and fragrance to cheaper alternatives.
Lower your beauty spend, not your beauty standards
Switching makeup, skincare and fragrance to cheaper alternatives doesn’t have to mean compromising on quality. Avon’s state-of-the-art Research & Development facilities have long been the beating heart of innovation, with more than 1,000 patents currently in action and an in-house team of more than 160 world-class scientists and innovation experts – over 60% of whom are women.
Angela Cretu, Avon CEO, comments: “Around the world, women and their families are feeling the pressure of the increasing cost of living. With 98% of women globally affected, we must support each other where we can. At Avon, we have a long history of doing beauty differently, creating top quality makeup, skincare and fragrance products without the luxury price tag – whilst offering women the chance to transform their lives for the better by earning and learning on their own terms. With many women around the world looking for ways to save money and start a side hustle, I’m proud to be part of a brand that uplifts women and helps them start up as entrepreneurs.”
For more information on the latest beauty innovations from Avon scientists click here.
All data included in this report is taken from a study of 8638 women 16+ in Brazil, Italy, the UK, Philippines, Turkey, Poland, Romania and South Africa. Study commissioned by Avon, conducted by Censuswide.