COVERGIRL Cosmetics: Take Beautiful Back
The Business Situation
Amidst the economic recession, over half of CPG shoppers claimed to have changed their shopping behavior vs. previous year. Cosmetics was at risk of "cutting back" behavior—consumers choosing to either (1) buy/use less often and/or (2) spend less or consider doing without ("trade out" risk). Brands that could provide practical and/or emotional value to drive preference were going to be the brands that ultimately won with consumers. This shift in shopping behavior was also resonating with prestige shoppers, who were now trading down to mass premium tier. These shoppers were seeking high...