The health and beauty industry is huge. The numbers are mind blowing, and they just continue to increase each year. The growth curve is shooting straight up. New brands are popping up and using social media to grow almost overnight.
So many premium brands are being established, but they are smoke and mirrors. Fancy packaging and celebrity endorsements aside, they are low quality products that work well, but they are not worth the massive markup these companies are attaching to them.
Why is there such an aggressive markup you ask? Well the cost to acquire a customer is high. They are using social media ads to launch and the competition is intense, causing high bidding for media inventory.
They are also using celebrity and influencer partnerships to gain traction, and this is very costly. In the ned you the consumer gets a low quality product that is fine, but you are paying 10-20X what it is truly worth. Use these tips to help reduce the amount of money you spend on your favorite health and beauty items.
Keep an eye out for BOGO deals.
These brands have such a high markup that they use very attractive specials and deals to spike sales when they experience a dip or need to push inventory.
Make sure you subscribe to their email updates and stay connected to them on social media. You will see plenty of highly discounted offers, BOGO deals and more. When you can stock up at a deep discount do it.
Shop for store brands.
There is a good chance that there is a store brand comparable to what you currently use and it’s a fraction of the price. There is also a very good chance that it is the same product and manufactured at the same facility, just packaged in a different box.
This is very common in these industries. The same dozen brands will often use the same manufacturer, who also produces the store brands. The store brands are not trying to make the same high margin. They are trying to give their customers what they need at a discount, which keep them coming back.
Shop on discount websites.
If you can wait, avoid buying at retail locations. They have the highest markups because their operational costs are high. Buying online will always get you better pricing, but you can take that a step further and look for discount websites that also offer health and beauty products. They are out there.
Just because a product is found on a surplus network doesn’t mean it’s low quality. These websites are often buying pallets of product at a steep discount and passing the savings on the the end buyer. They are a volume play, so it benefits them to liquidate everything at rock bottom prices.
Buy direct from the suppliers.
Have you ever looked at the makeup available on AliExpress? If not you can take a look here. The prices are so low, and while you have to order in large quantities some savvy shoppers will contact vendors and ask for samples.
This way they are able to get low quantities for dirt cheap prices. You will often find the suppliers for your favorite brands here.