Trend four of the Boots Beauty Trends Report 2023 is Savvy Beauty, highlighting the budget buys that help customers give the perfect look without breaking the bank.
Getting the most value for our beauty spend has never been so important. In the cost-of-living crisis, savvy and shrewd beauty shoppers are finding value in a multitude of ways.
In 2023, we’ll see beauty-lovers continue to evolve into increasingly discerning and mindful shoppers as they re-evaluate their spending habits. Customers are discovering ways they can get more bang for their beauty buck, whether that’s finding the best offers, simple product swaps or adopting hyper-personalised regimes and multi-functional products to limit waste.
Customers are on the hunt for the best deals, with #budgetbeauty trending on TikTok (over 200 million views)1 as they lookout for hidden gems and affordable finds. With 46% of consumers purchasing own-brand beauty or grooming products in the last 12 months,2 it comes as no surprise that the best-selling mass skincare brand at Boots last year was our own-brand range,3 with one product selling every three seconds in 2022.4
Alice Rafferty, Head of Premium Beauty and Fragrance at Boots UK said: “Now more than ever, it’s so important for our customers to be confident that they are spending their beauty budget on choices that really deliver for them.
"We’re committed to ensuring that beauty at Boots remains accessible for all. In 2022, ‘Price Advantage’ (where Boots Advantage Card holders get access to lower prices) ranked as the top search term on boots.com,5 and we are thrilled to be able to introduce even more deals for 2023 with over 1,300 offers and promotions available each month.”
This new era of cash-conscious consumers wants to create looks for less, as shown by a huge rise in Google searches for ‘dupes’ (up by 68% YOY).6 The self selection cosmetics category at Boots (including affordable and mass market brands such 17, Rimmel, NYX Makeup and Maybelline) saw a 20% increase in sales last year.7 Look out for the latest lines launching from high street heroes Makeup Revolution, they are tipped to mirror a cult classic...
But it’s not just about bargain hunting. Shrewd consumers are looking to fellow beauty fans for user reviews, feedback and education when investing in higher-priced products. More communities of like-minded beauty fans are popping up on forums like Reddit, while ‘get ready with me’ content is making a comeback on TikTok (with over 1.5 billion views of #GRWM in the last three months alone)8 as customers seek validation before committing to high-end purchases.
#1 to watch: Hyper-personalised beauty
This year, we’ll see customers more invested in hyper-personalising their beauty routines with products that are specifically tailored to them, that they trust will work and help reduce waste. Watch this space!
1. Source: TikTok Global, January 2 2. Source: Mintel – ‘The Private Label Beauty Consumer - UK’, 2022
3. Boots UK sales data by volume (1st Jan 2022-27th Nov 2022 vs. 1st Jan 2021-27th Nov 2021)
4. Boots UK sales data by volume (1st Jan 2022-27th Nov 2022)
5. Boots.com search term data (1st Jan 2022 – 30th Nov 2022)
6. Spate UK, as of 11th January 2023
7. Boots UK sales data by volume (1st Jan 2022-27th Nov 2022 vs. 1st Jan 2021-27th Nov 2021)
8. Source: TikTok Global, January 2023