IRI report
This article was originally published in The Rose Sheet
Executive Summary
Economic recession has spurred consumer trend toward "self-help" beauty, according to a "Times & Trends: 2009 CPG Year in Review" report by Information Resources Inc. Highlights of the report, summarized in a March 2 release, include fact that consumers are embracing certain beauty regimens or treatments, such as home hair coloring, which "can achieve 90% of the quality for 20% of the cost" of professional treatments, Chicago-based research firm says. The report, which summarizes IRI's findings on consumer shopping and consumption behavior over the last two years, also points to growth of private-label brands, a segment that has made market share gains that are "too significant to ignore," firm notes. Consumer packaged goods companies "need to devise strategies that assume private brands will continue to gain in popularity," IRI adds