I Need It! I Need It Bad!

If money gets tight (as if it hasn’t already), what’s the first thing you would cut? That may seem like a pretty simple and, perhaps, even silly question. I mean, really, we are after all logical, practical adults.  We know our priorities. We know what necessities are. And, we know that necessities are, well… necessary.  Therefore, anything else is game for chopping, cutting, and eliminating. That’s logical, and practical, right?

It all comes down to what you consider a necessity. When each day becomes a game of dare to watch the news, read the newspaper, or the online headlines, it seems that the feel good elements of life become more necessary, more essential than ever. Have you noticed yourself finding ways to sweeten your day? Was it something for you? Was it for something you shared with someone dear to you?

For beauty shoppers, both realities are true: less are cutting back on treats for themselves, and for treats they enjoy with others. Whether they are items like apparel and accessories, or experiences like entertainment in and outside of the home, fewer beauty shoppers are willing to forego their feel-good treats.  Foregoing that personal electronic item they’ve had their eye on is about as likely as cutting the vacation they have been looking forward to taking. And, when it comes to beauty, those claiming beauty products are the first thing they would cut if money gets tight dropped to the second lowest level since 2008*. In fact, for beauty shoppers, whether they shop at the local drug store or high-end department store, the number reporting that they factor beauty products into their budget and cut spending on other things to buy their favorite brands is tied for the highest level seen in six years*.

If money gets tight, what would you NOT cut? I suppose it all comes down to what you consider a “necessity”.

 

*Source: The NPD Group, Inc. / Beauty Consumers’Reaction to the Economy, March 2014

 

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