One way to improve your salon marketing during the recession is to look for products and services that are, relatively, recession-proof. Talking to our customers regularly, we’ve noticed that those who sell the more “high end” services, like anti-aging, seem to be much less affected by the credit crunch or recession.
Along similar lines, CosmeticsDesign-Europe recently quoted a forecast from Mintel - “Anti-aging tipped to survive the recession unscathed” -
Mintel expects anti-aging creams to remain unblemished by the recession following years of market leading growth.
Anti-aging skincare sales in the US rose 13 percent to $1.6bn between 2006 and 2008, outpacing the general facial skincare, which was up 11 percent over the same period, according to Mintel.
This trend is expected to remain on track even as the economy struggles.
“Anti-aging won’t fall to the recession,” said Kat Fay, senior beauty and personal care product analyst at Mintel.
“Looking young is extremely important to many women, especially Baby Boomers, and it’s not an issue they’re willing to compromise on because of tightened budgets. Many women see anti-aging skincare as a reasonably priced investment in their appearance and well-being.”
Strong growth forecast despite recession
So even as income drops Mintel expects the anti-aging skincare market to grow some 20 percent at inflation-adjusted prices over the next five years….
Not only are new products coming onto the market but new more advanced ingredients are being incorporated into the latest launches.
“The latest launches are more detailed and scientific in their claims, ingredients and projected benefits,” added Fay.
Mintel highlighted sirtuins as one of the newest and most promising innovations in anti-aging.
Sirtuins are naturally occurring enzymes that are thought to boost cell longevity and therefore, provide anti-aging benefits.
Two new sirtuin-based products to find their way onto shelves include Natura Bissé’s premium skincare product, The Cure, and Estee Lauder’s new Time Zone Line and Wrinkle Reducing Crème.
It is often said that, in a recession, the top end of the market and the bottom end tend to be relatively un-affected. It’s the people in the middle who are worst hit!
Related Articles on Salon Marketing -
- Getting through the Credit Crunch - How to “Recession-Proof” your salon
- Salon Management - Recession proofing tips
- Credit Crunch Marketing - Recession beating strategies
- Salon retail products - predictions for 2009
- Salon Retail - Beauty Foods a growing market in 2009?
- Recession-Proof Marketing - test and measure
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