Cost-of-living Crisis
As the cost-of-living crisis continues to have an impact on consumer spending, the demand for high-quality but affordable personal care products continues to rise. In response to the crisis, we delve into the art of creating budget-friendly formulations without sacrificing the consumer experience or quality of your formulations.
Introducing: Cost-Efficient Sensory Beauty
We invite you to explore the world of sensory perception through the lens of three key categories—look, smell, and feel—each playing an important role in shaping the consumer journey of perception of value in personal care products.
Look
The journey begins with the look of a formulation, highlighting how major or even subtle changes in colour or viscosity can evoke a sense of luxury and elevate the perception of the product. Exploring colour sensations can help make formulations appear more appealing and premium while using cost-effective materials. Hubspot reports that up to 90% of an initial impression of a product comes from its colour, and that 93% of consumers make purchasing decisions based on visuals alone! It's a crucial step, as visual appeal often serves as the first indicator of quality in a crowded marketplace.
A solution to cost-efficient formulations and cheap alternatives to big brand products is the rising trend of “beauty dupes”, where products mimic their more expensive counterparts but at a much more affordable price. A Statista study in 2024 showed a whopping 51% of consumers in Europe have purchased a fashion, beauty or luggage dupe, with 54% saying they did this because they were looking to save money.
With the help of Sensient Beauty®, we have embraced an extensive range of colours to help elevate the consumer’s perception of value and adapted other ingredients to a cost-efficient guideline. A great example is Surfachem’s Body Shimmer, a mimicry of Fenty Beauty’s Body Sauce. In this instance, a range of Sensient Beauty® pigments to match different skin tones but with an overall cost-efficient formulation, places this product above a regular body shimmer on the market.
Smell
We then shift to the power of smell, where fragrance becomes more than just a scent; it’s a driver of emotion and nostalgia. Creating captivating fragrances that provide a rich experience that match with the look and theme of your product while staying mindful of budgetary constraints is an art in itself!
A Mintel article highlighting fragrance market trends in 2024 says; “With 78% of UK consumers thinking that fragrances can improve their mental wellbeing, brands can promote the mood-boosting merits of perfume in their scent marketing” and how consumers search for escapism in today’s dreary outlook of inflation-induced anxiety, “due to its emotive nature, the fragrance industry is well placed to tap into escapist themes”.
The look and smell of a product must work in harmony to create a consistent sensory experience, as a mismatch between the look and smell of a product can disrupt the consumer's emotional connection. At Surfachem, we understand that the fragrance of a product needs to align perfectly with its visual cues to evoke the desired emotions and nostalgia. That’s why, in collaboration with Sensient Beauty®, who provide the perfect colour for our formulations, and Givaudan, with their extensive fragrance portfolio, we’re able to create products such as a vibrant yellow body cream with a zesty lemon fragrance. This combination fully embodies the refreshing citrusy notes, enhancing the consumer’s self-care routine. By ensuring the look and smell complement each other, we offer a holistic sensory experience that elevates perceived value and product satisfaction.
Feel
The journey concludes with feel, exploring the texture of formulations. Consumers search for a hands-on experience during their routines to understand how the touch of a product can convey a sense of quality and satisfaction.
As the cost-of-living crisis pushes consumers to seek more value from their purchases, multifunctional products are experiencing a significant rise in popularity. Consumers are looking for products that can serve multiple purposes, reducing the need for additional items in their routines. Revivalabs reported on a Mintel study showing that 64% of US consumers prefer multi-purpose skin care products over single-use products in 2023. One key trend emerging from this shift is the growing demand for foaming products, which provide a luxurious, effective cleanse with less product. In response to this, Surfachem has developed a foaming handwash that not only cleanses but also contains nourishing oils to keep hands moisturised. This dual-action formula eliminates the need for a separate moisturiser after washing, offering convenience and cost savings without compromising on care.
In conclusion
The sensory journey and experience are crucial in shaping a consumer's perception of value in personal care products. Every element—look, smell, and feel—works together to influence purchasing decisions. By carefully crafting formulations that appeal to the senses, as demonstrated in the examples above, formulators can provide consumers with high-quality, cost-efficient products that deliver luxury without the hefty price tag.
