Would you switch to high-end beauty products if their price came down? Lancome has lowered the price of some of its skincare lines by up to 30 per cent. This has caused a buzz in online forums but if a casual stroll through the beauty halls of Myer and David Jones yesterday was any indication, it has failed to translate to a shopping frenzy. What price your custom then? Is it low price or quality that is important to you when choosing skincare?
Lancome's general manager of PR, Christine Burke, pointed out the brand's strong Australian growth in the first half of 2012 when she announced the ''Love Lancome, Love Our New Prices'' initiative. The inference is that Lancome - owned of course by L'Oreal - didn't need to drop its prices to attract customers, it just wanted to'' (so that) more women can now enjoy the luxury of Lancome''. The three lines that have been reduced are all bestsellers in their respective categories. Although Lancome is best known for its mascara, skincare is a key driver of the brand. Genifique has tripled in sales in Australia since its launch in 2008. Renergie, the anti-wrinkle and lifting line, is the brand's No. 1 skincare franchise while Visionnaire is its most successful skincare launch to date. So why then the drop in prices?
''We all know that the retail scene globally has changed,'' Ms Burke said. ''Women now have more choices and 'retail borders' have merged. Expertise and service are at the very core of our values.... (and) by lowering our prices on our iconic favourites we aim to bring awareness to women never to compromise on the safety of their beauty routine. Always insist on quality and seek expert advice.''
Lancome has dropped the price of 30ml Genifique serum from $115 to $88. On a cheap and popular online beauty store the same product sells for $90.50 today. Clearly, Lancome has decided to meet the challenge for consumers' bucks head on. But is this enough to sway you? The same product was $55 on eBay.
Do you buy high-end products regardless of price - because you want results and quality? Or do you think they're not worth the money whatever the retail price? Why do you buy the skincare products that you do? And where from?