You are here
PORT WASHINGTON, N.Y.- The NPD Group, Inc.-- Though many consumers are curbing discretionary spending to factors ranging from rising gas prices to war worries, they are least likely to alter their spending on products affecting their appearance like cosmetics, skincare, and apparel, according to findings from a recent consumer survey by The NPD Group.
Overall, 76 percent of consumers said they are "being careful" about discretionary purchases and 41 percent of consumers said they plan to spend less than usual over the next three months. Market information provider NPD says cosmetics and skincare are the most resistant to spending reductions of all the 17 product categories tracked for the spring survey. More than half (55 percent) the consumers said they intend to spend the "same as usual" on cosmetics and skincare products over the next three months.
"Now more than ever, men and women of all ages want to look and feel good and they're not willing to give this up even during times of instability and war," said Timra Carlson, president, NPD Beauty division of The NPD Group. "Consumers will continue to pay for prestige makeup and skincare products, however we have found that economic cycles will affect fragrance sales."
The survey's findings also bode well for take out fast food providers. Fifty percent of respondents also project spending the same amount of money on eating out and carrying out meals, while 47 percent say they intend to maintain patronizing full-service restaurants.
The Top 10 categories consumers say they plan to spend the 'same as usual' on are: skincare/cosmetics, 55 percent; eating out/carry-out fast food, 50 percent; eating out at full service restaurants, 47 percent; shoes/athletic footwear, 46 percent; clothing/apparel, 45 percent; perfume/fragrance, 42 percent; music, 40 percent; toys/games, 39 percent; video games, 38 percent; and small kitchen appliances, 38 percent.