An item is considered a luxury because it is a want, not a need. An item becomes exclusive because it is not generally available or accessible, for example, because it is made with premium ingredients and therefore attracts a premium price. Factors such as marketing, product design, and product quality may also increase consumer demand for an item, thereby driving exclusivity.
Moreover, an item becomes an exclusive luxury due to something harder to describe: the way the consumer feels when they buy it.
In this article, we’ll cover the rise of demand for luxury and accessible luxury skincare, as well as the differences between luxury & regular skincare - and how to choose the right one for your needs. Find out how LYCON is shifting the paradigm of what skincare should be.
Accessible Luxury in Skincare
The skincare market has been rapidly increasing consumer accessibility to luxury products. This ‘accessible luxury’ has meant that a premium product is more attainable to the everyday consumer.
Within any industry, there is a spectrum of products, ranging from the bare basics to the most exclusive products. This is no different for the skincare market. Consumers can get by with regular skincare, but put simply, if you invest in luxury skincare, you will notice the difference.
Riding the Skincare Trend Wave
A few consumer trends developed during the COVID-19 pandemic. These included indulgent self-care routines and increased value for premium skincare. With the extra time spent stuck inside came a natural rise in at-home pampering and elevated skincare routines. From this, research and shared knowledge via social platforms boomed.
Consumers learned all about active ingredients and the brands or products that could offer them. No longer would the simple products suffice; instead, skincare that featured premium ingredients targeting individual skin concerns, which could also provide an added luxurious experience, was top priority. Extra money in the consumer’s pocket enabled these consumer trends to flourish. More could be spent on higher quality, carefully considered products.
The New Norm of Indulgent Self-Care
Now, in a post-COVID world, self-care and indulgence have become an essential for a greater portion of consumers. A younger demographic learnt at an earlier age the importance of caring for their skin. Prevention is just as important, if not more important, than an attempt to remedy later in life. And for a relatively small amount of effort and a little extra cost, big results can be achieved.
LYCON Skin makes skincare simple, effective, and essential for a generation that knows prevention is key
What Is the Difference Between Luxury and Regular Skincare?
At its core, the difference between a luxury skincare product and a regular skincare product is the active ingredients and the process by which it is made.
Premium products are packed with active ingredients to achieve a faster, better result. They are mixed with inactive ingredients, which are higher grade and provide good foundations for the active ingredients to perform at their best. Because of this, these products cost more to produce and therefore cost more for the consumer to buy.
Additionally, there is an added value and trust that the consumer builds with a brand. Company ethos and the integrity of the product are strong contributing factors. Having the confidence that a brand or a product has done a scrupulous job in researching and developing the best possible product is paramount.
LYCON Skin being developed in the laboratory at LYCON Cosmetics HQ in Brisbane, Australia
But a luxury product needs to go above and beyond what goes into the product. It needs to deliver a great experience, increasing the perceived value. Lifestyle is a major contributor to purchasing decisions; improving a consumer’s lifestyle is invaluable to increasing the perception of luxury.
How to Choose Your Best Skincare Option
In a fast-paced society, which is only getting faster, it is important for consumers to take a step back and properly consider their choices. With everything being produced cheaper and faster overseas, it can be easy to overlook certain aspects of the items that are being purchased.
Especially post-COVID, as shipping delays and production issues cause headaches globally, turning to locally produced products is essential.
Australia has a well-known reputation for high manufacturing standards. Choosing to shop local makes the decision much easier. Trust is more easily gained, and the consumer can be confident that their expectations will be met.
How LYCON Is Shifting the Paradigm of What Skincare Should Be
LYCON Cosmetics is unwavering in its quest for perfection when it comes to ingredients, formulas, and manufacturing, it’s in our DNA. Everything is done in-house in Brisbane, Australia, ensuring the highest quality is met.
The LYCON Skin collection for everyday at-home use
LYCON’s R&D involves rigorous testing by the in-house Cosmetic Chemist to ensure the products are up to the minute. The finest premium-grade ingredients are sourced ethically and transformed into luxe cosmetic products using the highest standards of manufacturing.
What sets LYCON apart from other facilities is its globally recognised ISO 22716 Certification, which puts LYCON at the highest end of world-class standards. LYCON is a smaller home-grown cosmetics company that is recognised and trusted for quality products that are made in relatively small batches, ensuring all products are as fresh as can be.
Premium product is not the only thing LYCON prides itself on, as its ethics are a focal point also. From humble beginnings, LYCON has earned a reputation over the past 40+ years as the crème de la crème of depilatory wax and skincare products. It’s the trust in LYCON that has been built with the customer that ensures they look good and feel good about not only what is in the product, but how it was created.
Looking into the future, LYCON Cosmetics is excited for what we have in store with more product development and further factory expansion. More importantly, they are excited that their passion for luxury skincare will continue to be shared with the ever-bourgeoning consumer.
Click here to learn more and shop the full LYCON Skin collection.
