As the economy evolves and consumers adjust to the morose economic status, buying habits have also changed. Consumers have cut back on spending and are no longer splurging on personal care products. They are reducing the amount of products they buy and applying more scrutiny when purchasing those products. Following consumer purchasing cutbacks, companies are also scaling back on the amount of inventory they’re ordering, cutting their orders in half, sometimes more.
GCIMagazine.com listed a few major shifts in the anti-aging market, including: consumers are looking for multifunction ingredients and curbing spending habits; the marketing/benefit message must be more focused and specifics communicated to the consumers; and consumer decisions will be driven more by compelling performance than by mere label claims. Consumers are not longer focused on empty product claims and neat label designs. With so many new products bombarding market shelves, packaging is more important than ever. Labels are multipurpose and multifunctional, and failing to realize that and answer to the demands of newer, better packaging may make you blend in instead of standing out among the competition.