News

ShopSmart study eyes store brands as way to save on beauty products

BY Jason Owen

YONKERS, N.Y. — According to a recent poll that will appear in the June 2013 issue of ShopSmart, 56% of women do not take advantage of coupons and discount codes when it comes to purchasing makeup, skin care items and other beauty products.

"There’s no reason to overpay or to miss a potential deal when buying beauty items," said Lisa Lee Feeman , editor-in-chief of ShopSmart. "Also consider store-brand beauty products — if you like them, the savings can be worthwhile in the long run."

 In response, ShopSmart offered some ideas to help consumers save on beauty products:

  • New store brands. Store-brand beauty products offer more choices than ever. ShopSmart‘s recent beauty-product price scan found store brands can save shoppers as much as 40% on products such as facial cleansers, scrubs, moisturizers and eye serums. CVS, Rite Aid, Target, Walgreens and Walmart offer at least two tiers of store brands — a basic line that competes solely on price and a premium line. Also consider bargain beauty products lurking in unlikely places such as Aldi, Trader Joe’s and Whole Foods.
  • High-end look-alikes. These "equivalents" compete with higher-end name-brands with comparable ingredients. They might be more expensive than mass brands, but in most cases are cheaper than premium brands. ShopSmart found CVS equivalents to best sellers such as Olay Regenerist Micro-Sculpting Cream and L’Oréal Day Lotion Deep-Set Wrinkle Repair.
  • Celebrity lines. CVS, Target and Walmart offer celebrity makeup lines that can’t be found anywhere else. Target carries an exclusive cosmetics line from celebrity makeup artist Sonia Kashuk with great prices and selection; Walmart recently launched Flower, an exclusive makeup line from actress Drew Barrymore, whose items typically cost $10 or less. And CVS sells actress Salma Hayek ‘s Nuance line.
  • Bulk buys. Warehouse stores and their websites are great places to buy high-end beauty goods. Costco is a secret source for high-end skin care and other beauty products for less. Kirkland Signature, Costco’s house brand, carries versions of Borghese products, a high-end beauty brand sold in upscale stores. Though Borghese doesn’t say that Costco’s version is the same, it does say that the Kirkland Signature line is made specifically for Costco in the same factory.

 Other findings in the ShopSmart poll included:

  • When They Shop: 43 percent of women bought cosmetics only when they were on sale;
  • Beauty Hoarders: 61 percent of women say they had beauty products that were expired or they no longer used;
  • Buyer’s Remorse: 33 percent of women said they had regretted a beauty purchase made in the previous 12 months;
  • Spend vs. Save: Foundation (including tinted moisturizers and BB creams) was the number one item women say they splurged on; lip gloss is the item they cheapened out on;
  • Favorite Makeup Product: Mascara was the cosmetic product women say they used the most;
  • Brand Loyalty: Facial moisturizer was the number one item to which women said they were most brand loyal to; lip gloss was the least.

 


Like this story? Find us on Facebook for more insight, analysis and the latest in drug store news. Join the conversation.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

Riding the bend in the health cost curve

BY Jim Frederick

Americans and their healthcare plans are spending less on medicines and health services. Is that a good thing?

Researchers for the IMS Institute for Healthcare Informatics posed that question with the release of a report on the U.S. pharmaceutical market this week. But pharmacy leaders, independent and chain pharmacists, the U.S. health system and healthcare advocates are going to be dealing with the implications of that trend going forward.

The IMS report, “Declining Medicine Use and Costs: For Better or Worse?,” tracks a trend that could be with us for a long time. “In 2012, both the per capita use and cost of medicines declined,” noted Murray Aitken, the institute’s executive director. The drop was real and measurable. “Total spending on medicines on a real per capita basis declined by 3.5% in 2012, as a result of declining use of branded drugs, greater availability of lower-cost generics, lower levels of price increases and reduced spending on new medicines,” the report stated.

Even seniors, the group with the highest rates of prescription use, showed small declines in use last year, IMS reported.

As Aitken points out, “For some, this will be good news and a harbinger of more efficient use of our healthcare resources. For others, this decline may indicate under-treatment and imbalance between prevention and care.”

The reasons for the falloff in Americans’ use of medicines and healthcare services are complex, said IMS, “and point to the paradox that while drug costs are actually falling for many patients, their exposure to healthcare costs is increasing.”

According to IMS, “Deductibles and out-of-pocket costs have more than tripled for insured patients in the last five years, while costs for the subset with consumer-driven health plans have gone up seven times.”

At the same time, drug costs are down for many Americans. One big reason: lower-cost generic drugs, which now make up 28% of total drug spending, according to IMS.

Here are a few of the nuggets of information that IMS sifted out of the data stream:

  • The average copay for nearly three of every four prescriptions dispensed at retail in 2012 was $10 or less;
  • Prescriptions for lower-income Americans on Medicaid “cost beneficiaries very little, with 95% costing less than $5 and 99% less than $10,” noted IMS;
  • Patients covered by commercial, for-profit health plans “face a higher medicine copayment cost than other insured patients,” according to the report, with copays for branded drugs typically costing those patients $20 or more.

The bending downward of the medication cost and utilization curve is sure to ripple through the pharmacy profession and the vast healthcare network it supports. And it comes “as we sit on the eve of arguably the most transformative period in healthcare,” according to Aitken.

Please share your thoughts about what the decline in medicine use means for patients and pharmacy. As always, your comments are appreciated.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

News

NPD study: Kids, teens heaviest snackers; Women outpace men

BY Jason Owen

CHICAGO — The typical American eats more than 1,000 snack-oriented convenience foods throughout the year, and kids and teens are the heaviest users of this assortment of snacks, which includes fresh fruit, sweets and savory snacks, according to a recent study by The NPD Group, a global information company.

The study also found women eat on average 3.1 snack-oriented convenience foods a day compared to the 2.7 snacks men eat a day.

About eight of every ten in-home snack food eatings are considered to be a snack-oriented convenience food versus other foods, regardless of time of day, finds NPD’s SnackTrack, which continually monitors the consumption of snack-oriented foods both in-home and away. During a typical year, there are over 356 billion eatings of snack-oriented convenience foods.

Among the top ten motivators for selecting a particular snack are: “like the taste,” “was hungry,” “had a craving,” “favorite snack,” and “was simple and easy to eat,” according to SnackTrack. While taste is the leading motivator across all age groups, women are more likely to select snack foods to satisfy specific expectations (i.e. chocolate, sweet, crunchy, healthy) while kids’ favorite snacks are simply fun to eat. Fresh fruit, chocolate, potato chips, cookies, and yogurt are, in rank order, the top five snack-oriented convenience foods consumed annually.

“An individual’s mood and situation has a strong effect on what will be snacked on,” says Darren Seifer, NPD food and beverage industry analyst. “Connecting your marketing messages to the emotional nature of snacking — think taste, cravings and indulgence — will help drive your product’s selection.”


Like this story? Find us on Facebook for more insight, analysis and the latest in drug store news. Join the conversation.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES