Beauty customers today are becoming more discerning, seeking clear value propositions from brands regardless of price point. The BoF-McKinsey State of Fashion: Beauty report highlights a shift in consumer preferences, with 63 percent stating that premium brands do not necessarily outperform mass brands. This trend is reflected in the global market, where mass and masstige segments in skincare and cosmetics have seen significant growth over the past five years.
Mass beauty brands are gaining ground by offering efficacy, innovation, and virality at accessible price points, challenging the traditional dominance of premium brands. The rise of K-beauty and the adoption of similar codes by challenger brands are reshaping consumer expectations. Accessibility, availability, visibility, and consumer attention are the key drivers behind the success of mass players, who leverage e-commerce and social media to reach a wider audience.
Despite the perception that premium brands hold aspirational allure, the survey reveals that more customers purchase mass brands than consider them their favorite. This presents an opportunity for high-end brands to differentiate themselves through transparency, clinical trials, and innovative ingredients. Brands like The Ordinary have disrupted the market by debunking the notion that lower prices equate to lower efficacy.
In skincare, haircare, color cosmetics, and fragrance, mass brands are gaining traction, with consumers showing a preference for accessible pricing and wider availability. The challenge for premium brands lies in demonstrating clear value to justify their higher price points amidst the rise of “dupes” — products that mimic luxury items at a lower cost. To combat this trend, premium brands must focus on innovation, quality, and communication to retain their market share.
As consumer demand for affordable beauty products continues to rise, brands across all price tiers must adapt to changing preferences. The push for affordability is more pronounced in skincare and makeup, where consumers are trading down to cheaper alternatives. To stay competitive, brands need to emphasize value for money, sensorial appeal, and functionality to meet evolving consumer expectations.
Charlotte Tilbury’s response to the dupe phenomenon underscores the importance of innovation and differentiation in the beauty industry. The emotional connection consumers have with products is influenced by design, formulation, texture, and scent. High-end brands must deliver on these elements to stand out in a crowded market where sensory appeal drives consumer attachment.
![[Beauty of Joseon] Revive Eye Serum : Ginseng + Retinal 30ml](https://m.media-amazon.com/images/I/61li+q2pbqL._AC_UL320_.jpg)
Executives in the beauty industry must understand varying perceptions of value for money among consumers and emphasize unique selling points to justify price points. Creating accessible price points, offering entry-level products, and enhancing customer experience through targeted promotions are essential strategies for brands to navigate the evolving beauty landscape.
The beauty industry is evolving rapidly, with consumer preferences shifting towards value-driven purchases. Brands that can deliver on innovation, quality, and value stand to succeed in a market where accessibility and authenticity are key drivers of consumer loyalty.
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