The beauty industry is booming, but with it comes an ever-increasing need for the freshest products available.
According to a new study, more than 90 per cent of Australians surveyed were dissatisfied with their skin care brands, while the average customer is paying more than $100 per year for skin care.
The study from research firm Brandmind found that Australians spend $2,988 on skin care products annually.
However, the majority of consumers said that they would not spend that amount on a single brand.
“The Australian consumer is looking for a brand that offers them the best value in skin care,” Dr Amy MacFarlane, chief executive of Brandmind, told News.au.
Ms MacFoyle said that many of the brands that were ranked high on the study were brands that people thought would not make it to their skin, like Clinique and L’Oreal.
“[They] were more of a novelty brand than a quality brand, and consumers didn’t know how to use them,” she said.
While the brands were ranked highly on the survey, they did not make the top 100 most popular skin care companies.
As a result, Dr MacFoley said it was hard to know exactly what Australians were purchasing.
She said the study also revealed that Australians were willing to pay up to $20 more per month for skin products than other consumers.
Dr MacFoyles findings were published in the Journal of Consumer Research.
Brandmind conducted the study by asking Australians to complete a survey about the most popular brands of their choice.
They also asked respondents to rate the quality of the products they used, and whether the products were “good value”, “good quality”, or “not worth the price”.
The results of the study revealed that the most valued brands were Clinique, L’Oréal and Urban Decay.
Among the top 10 most-wanted brands, Urban Decay was the top-ranked brand, followed by Clinique.
On average, consumers were willing buy $15 more for a skin care product each year than they were willing pay for a comparable brand.