Mintel Beauty Innovation affirms 'recessionista' trend

CHICAGO The years of indulging every beauty whim appear to have fallen by the wayside, as shoppers watch their dollars in light of the current economic crunch. As a result, Mintel Beauty Innovation predicted that "econo-chic" is the big trend for 2009.

"Cosmetic companies are quickly responding to the needs of the Recessionista," stated Taya Tomasello, senior analyst for Mintel Beauty Innovation. "Effective and affordable multi-use products, and products offering convenience, allow women to continue using their favorite brands, but at a reduced cost."

Mintel added that those products claiming multiple benefits or uses in one bottle are becoming especially popular, as are convenient products for busy beauty mavens on the go. Mintel found that 27% of skin care products launched in the first quarter of 2009 boasted "convenience" claims.

It is predicted that drug stores and discount retailers will fare well in this challenging market. Women will remain brand loyal to masstige and prestige products, but will likely slim their repertoire to only a few of their favorites, according to Mintel.