Women will spend less on cosmetics in 2010, according to a report published in WWD. AlixPartners polled 600 Americans over age 25 and found that women will reduce spending on cosmetics by 8.7 percent next year. They are expected to spend 3.4 percent less on health and personal care items, as well:
"In personal care, consumers plan to spend less overall, but indicate they will remain loyal to brand names," said David Garfield, a managing director of Alix and leader of its CPG practice. He noted that while consumers have been "value shoppers" in 2009, "they have evolved into 'value-hunters, tracking down deals and perceived value."
The same study revealed that consumers in the South will likely stick to their spending guns, purchasing the same amount of makeup as in 2009, more or less.
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