What Makes Cosmetics Expensive?

In the consumer market, price is often associated with quality. Higher the price, the better the quality. However, this does not necessarily stands true. The price of the products is determined by the ingredients and the raw material used to make the product and is fluctuated further as per the market the product targets. Usually, high-end products are targeted at the elite or the upper-class segment of consumers. Whereas the low-end product or a product that is considered to be relatively lower in quality or the ingredients used are not high-end, the price is often kept low for the middle and lower class of the market. The consumer psyche believes in a direct relationship between price and quality and this is what marketers target.

Today, in this article, we will discuss what makes your cosmetic products expensive and whether is it always the right decision to buy high-priced makeup products while there exist several other brands and products that are being sold at a low price, delivering a good result.

 

Factor Contributing To The Price Of Your Product:

 

●     Packaging

When a product is priced, several elements are kept in place while deciding on the best price for the product. Apart from the estimation of the cost involved in procuring the raw materials and the ingredients to make the best quality formula, getting the final product in shape and packaging also adds up to the cost and thus is reflected in the price as well. Marketers add up fancy packaging to the product to make it more appealing to the eyes of the customers. E.g., they may use custom holographic boxes to let the product peek through the packaging and look more exciting. The added feature just simply adds up to the cost and is then reflected in the price.

 

●     Raw Material Used

The better the quality of ingredients used, the higher the cost incurred and thus, the higher the price of the product. This is the reason why some products are priced less while the same product from any other brand is priced higher. Different formulas, different ingredients, and different results.

 

●     Market Positioning

It matters to a great degree how you position your brand in the minds of your target market. The better the positioning, the higher will be the foot counts to your store and the more sales of your product.

 

●     Demand

Better positioning leads to increased demand and as the demand increases, the price also rises thus, for the high-end products, the consumer segment that doe not compromise on the perceived higher quality of such makeup products is readily willing to pay higher.

 

●     Competition

In a competitive market environment, products are usually sold at competitive pricing which in some cases leads to higher prices especially when it comes to a product that is considered a high-end product. These High-end products, when exported, are sold at an even higher price which tends to alter the consumer psyche who then associate it with higher quality and convince themselves to buy it despite the struggle to afford it.

 

It is to be noted here that good quality, in itself, is a trait that must not be related only to the price but also to the image of the product in the minds of the customers. Even if you, as a marketer, price your product lower, positioning is a tactic you can use to convince the market to believe in the product that you are trying to sell.

 

Some High-End Makeup Brands In The USA

 

Following are a few of the high-end cosmetic brands in the USA that are sold at high prices and are perceived and marketed as high-quality products:

 

●     Tarte

●     Mac Cosmetics

●     Fenty Beauty

●     Nars

●     Clinique

●     Bobby Brown

 

Alternative to The Super Expensive Makeup Brands

 

A high price does not always confirms high quality. However, there are makeup brands that promise good quality at relatively lower prices. Therefore, Instead of choosing expensive makeup products, value for money is another aspect that plays a very vital role in consumer choices. Therefore, we have come up with a few makeup brands in the USA that promise good quality at a reasonable price:

 

●     Too Faced

●     Benefits Cosmetic

●     Stila

●     IT Cosmetic

●     Laura Mercier

 

Although, the choice of the right product is made keeping in mind several factors like skin type, social status, a product that suits the skin the most irrespective of the price, etc. Therefore, the consequent decision must be made keeping in mind all these factors and not just the price alone. However, in today’s crunching economic conditions, without compromising a lot on quality, the price has to be a determining factor while several alternatives exist in the market.

 

Here are some tips for you that might help you choose the right product for yourself while keeping in mind the above-stated argument:

 

●     Read Product Reviews

While deciding on the best product to buy, look for real-time customer reviews on the product website as they might help you in making your purchase decision.

 

●     Seek Word Of Mouth

Word of Mouth is another valuable source of data that might help you in learning the real-time experiences of people with the products you intend to buy.

 

●     Stop Experimenting

It is suggested to avoid using products for the first time without considering their effectiveness. It is important to understand whether the product is capable of fulfilling its intended purpose or not. Therefore, thorough market research always helps.