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Credit Crunch Consumers Turn Their Backs Premium Skincare Market -

Tuesday, 24 February 2009

The credit crunch is revolutionising the way women buy their skincare saving them thousands of pounds every year, according to a survey conducted by the UK's no 1 facial skincare brand*, Simple.

The poll, which explored the views and evolving buying habits of 2,000 women across the UK as Britain officially enters a recession, has revealed that:

  • More than 80% of women are turning their back on expensive department stores instead looking to the high street when buying their skincare
  • 98% of women would rather sacrifice buying shoes than surrender their skincare budget 
  • Serum is the most popular new skincare innovation and cosmetic-bag staple  (£109m serum market established in 2007/2008**) - but 95% of women are no longer prepared to pay over the odds for it

Marketing Director of Simple Health and Beauty, Alex Pike, says:

'The enormous growth in the serum market flagged up some very important shifts in trends to us. The first being the demand and excitement around serum products - a market that overnight is now worth an astonishing £109m**.

'The second point is price. As highlighted in our study, consumers are no longer prepared to pay over the odds for their skincare and currently serum products are expensive.

'We decided to plug the gap in the market by developing a unique, first-to-market serum product at an unbeatable price point -75% cheaper than the market leading serum.' 

Pike believes that Simple Regeneration Vitamin E Serum Pads - an innovative 'moisturiser in a pad' which helps fight the signs of premature ageing - will revolutionise the serum market with its recommended selling price of just £3.99.

She continues: 'Research shows that people will never stop looking for hope in a jar but one thing is for sure, they are no longer prepared to pay premium prices for the latest innovation. In these testing economic times, even the well heeled, who know their skincare counters like they know their own wardrobes, are turning to the high street for alternatives to their costly department store purchases.

'Women have realised that they do not have to pay over the odds to achieve the same, if not better, results on their skin.'

Simple, recently voted the' UK's Best Value Beauty Brand'***, put its serum product up against the current market-leading serum in a poll - 94% of consumers said they would buy Simple's Regeneration Vitamin E Serum Pads as their preferred serum product.

Alex adds: 'The beauty about our serum pads is that they offer the purest possible delivery and perfect daily dose of Vitamin E and as it applies evenly across your face, there is no wastage.'

Simple's Regeneration Vitamin E Serum Pads have a recommended retail price of £3.99 while the current market leading product retails at £18.50 (www.boots.com 6th February 2009).

 - Ends -

Summary of research results:

•·        Top 5 credit crunch sacrifices:

•1.      Shoes

•2.      Designer clothing

•3.      Dinning out

•4.      Luxury skincare products

•5.      Luxury haircare  

•·        95% of women will not pay more than £10 for a Serum product

•·        58% of women surveyed found Simple Regeneration Serum pads most appealing because they are more convenient and they contain a daily dose of Vitamin E.

•·        58% of women surveyed said they have halved their spending on skincare

•·        Two thirds (65%) of women surveyed have turned their backs on designer clothing labels in favour of high street fashion

•·        Reasons for spending less on skincare:

•o       'Buying expensive products has become a real luxury for me, so now I choose to shop around and read the labels...'

•o       'I want a brand that I can trust and one that will not irritate my skin, but also won't cost the earth...'

  • o 'Functionality is now the most important thing I look for, before I'd always think expensive meant the best...'


Regional breakdown:



% of women actively choosing the high street over department store shopping

% of women who will not pay more than £10 on a skin serum product

% of women who are sacrificing regular shoe purchases rather than surrendering skincare budget

% of women who would actively purchase Simple Regeneration Vitamin E Serum Pads over nearest competitor product











North East





North West










London & S. East





South West






80.33 (80%)

95.41 (95%)

97.74 (98%)

94.2 (94%)




Notes to Editors

  1. * Brand position in units. Source: IRI 52 w/e 1st November 2008 Non Medicated Facial Skincare, (Brands worth more than £1m)
  2. ** TNS Worldpanel 52w/e 23rd March 2008
  3.  ***Independent research: Quibiq-online Sept 08
  4. Simple products contain no perfume, no colour and are dermatologically tested