Inflation is happening and it’s affecting all areas of our lives, from what we’re picking out on the dinner menu to how we’re forking out our utility bills (we get teary-eyed either way).
The beauty industry is not exempt from rising prices all around: the British Beauty Council’s 2022 findings noted that the price of shampoo had risen by 8% and the cost of shower gel by 11% within a year.
We’ve also been seeing beauty brands announce, regretfully, that they’re raising their prices to manage the increasing cost of raw ingredients and packaging.
Just two years ago, eight years after the brand’s inception in 2013, The Ordinary announced that it would be implementing a price increase across some of its beauty products.
But, as we cart out our favourites online or check them out at Sephora, we’re not always keeping the rising prices in mind.
It’s one reason we’re suffering the brunt of increasing prices more than we realise: inflation is happening in our beauty bags, and we’re not doing anything about it.
Beauty product prices now versus 2 years ago
Take the Tom Ford Black Orchid Eau De Parfum, a cult classic since it was launched in 2006. It was priced at S$200 for a 50ml bottle at Sephora in 2020, but now costs S$235 on the same shopping platform. That’s a S$35 increase in about two to three years.
In 2020, the Laneige Water Sleeping Mask, a magic potion for quenching parched skin’s thirst overnight, was listed at S$42. Fast forward a few years, and the sleeping mask is now priced at S$50, plus – now, we can’t do without it.
And, when sunscreen brand Supergoop! listed its Bright-Eyed 100% Mineral Eye Cream SPF 40 at S$55 in 2020, we never expected it to be priced at S$64 today.
Granted, not every beauty product has increased this much in price – the Charlotte Tilbury Cheek to Chic Blusher was S$70 in 2020 and is now S$71 in 2023 – but even the slightest increase in prices is proof.
Inflation is happening in our beauty bags alright, but the good news is that there are ways we can manage it. That’s right, we’re sharing our best beauty shopping tips with you!
How to save money when you shop for beauty products
#1: Purchase your products online
Online stores usually offer discounts much more often throughout the year, as compared to in-store sales. Instead of waiting for the sales periods to roll out, check for discounts on the brand’s online store as well as other e-commerce platforms like Zalora, Shopee, and Lazada.
If the product you’ve got your eye on isn’t marked down at the moment, you can still keep it in your cart or wishlist and check for slashed prices. Some apps will even notify you when the product you’re pining for goes on sale.
Remember to check out the beauty brand’s official store on Shopee or Lazada because discounts usually abound on these platforms. That S$50 Laneige Water Sleeping Mask we mentioned earlier? It’s priced at S$45, at a 10% discount on Laneige’s official Shopee store (at the time of writing)!
#2: Keep products in your cart
If you’re hesitating on whether to cart out a beauty product, don’t keep it in your wishlist, keep it in your cart instead! Sometimes, beauty brands will offer you a discount to get you to do the final step of actually checking the product out.
#3: Don’t look down on dupes
TikTok’s our go-to platform for the best beauty hacks, so it’s saying something when #dupes are taking the platform by storm.
Dupes are what TikTokers are calling more affordable alternatives to luxurious high-end beauty products – they’re not just cheaper, they’re also considered to give similar results as their more expensive counterparts.
Instead of carting out a S$57 Dior Addict Lip Glow Oil, you could, for instance, pop a popular “dupe” like the S$40 Clarins Lip Comfort Oil in your shopping bag instead. Or, say, swap out the Clinique Almost Lipstick in Black Honey for the Nivea Blackberry Lip Care if you’re on a budget.
#4: Mark sales periods down in your calendar
When the regular sale periods roll around, you’ll want to know about it.
Whether you’re shopping at your nearby Sephora store or carting out items online, keep track of typical sale periods that happen every year to cut your spending significantly.
Sephora, for instance, usually has two huge sales a year, where beauty products are marked down up to 20% off. These typically happen in May and October, which means that if we’re tempted to purchase a must-have in April, we’ll tell ourselves to wait a little longer until we can get it at a discount.
Of course, there are also double-digit sales that happen online almost every month, so be sure to check those out too.
#5: Make the most of your beauty stash
Instead of leaving, for instance, the last bit of foundation untouched and tossing the packaging, there are ways you can make sure you’re swiping even the last drop. Psst! Our secret tip for saving cushion foundation formula is to turn the sponge over.
Some beauty brands also have recycling programmes that’ll let you bring your used packaging back to the store to get a refill, which is usually cheaper than if you get a new bottle.
Look out for brands like L’Occitane that accept your beauty “empties” in exchange for stamps that can be accumulated for rewards too!
Learn how you can have money coming into your bank account
Even as you find ways to cut down your spending – money that’s going out of your pocket, you should also consider exploring new methods to get cash flowing into your bank account. One great way to do this? Investing.
Investing can seem extra daunting, especially for those who’ve never tried it before, but you can begin your investment journey in small steps when you’ve got reliable resources to help you out.
Moomoo Singapore is a licensed brokerage that offers new investors support through educational resources, and it’s a great place for you to start!
Why? Essentially, before you begin, you’ll get to learn more about how to go about investing by going through the introductory resources and free courses in the app.
Only when you’re ready, use the app to access real-time data on stocks, gain insight into markets, and begin investing for real!
Claim rewards when you register for a Moomoo Singapore account here.
#1: Learn with a wealth of resources
In the app, click on the “Learn” page to access beginner courses such as Investing 101, which includes an introduction to what investing is, why you should invest, and how you can start investing.
Each course is organised into various categories and sub-categories so that it’s easy to get through each lesson without feeling overwhelmed.
At the end of each lesson, you can even scroll through the comments section to find out what other users are feeling about investing or feel free to post your own thoughts and questions.
With other moomoo users around, rest assured that you’re not totally alone in your investment journey.
#2: Attempt to gain a winning edge
One key to capable investing is directing your investment decisions towards areas that you’re most familiar with (refer to Warren Buffet’s Circle of Competence).
For example, if you always have the first scoop on Estée Lauder’s upcoming skincare ranges and you know how much better the brand’s doing against other competing skincare labels, chances are you have an upper hand over other investors who are less familiar.
If beauty’s your sphere, roll with it when it comes to investing. With your first-hand knowledge of beauty brands, you can use the moomoo app to view data on the company’s stocks and pick those that you’re confident will grow your money over time.
#3: Try your hand at trading without actually trading
While investing generally involves buying and holding stocks to seek profits over the long term, trading entails buying and selling over shorter periods, taking advantage of the rise and fall of markets to maximise returns.
If you’re keen to try your hand at trading even as a beginner, you can do so with the moomoo app’s “Papertrade” function. A simulated trade that uses virtual instead of real money, paper trading allows traders to practice in a simulated market environment without the fear of losing money.
Users who activate their paper trading accounts will be given one million virtual money in each account and they can use this to practice trading on the app!
#4: Feel protected
Moomoo Singapore is licensed and regulated by the Monetary Authority of Singapore (MAS), which means that it has to adhere to standard regulatory safeguards and conduct rules. With these safeguards in place to help protect your money and assets, you can have greater peace of mind when you’re trying to invest for the first time.
#5: Enjoy new user privileges
It doesn’t matter if you’re not planning to start investing any time soon. It’s still in your favour to download the moomoo app, register an account for free, and start accessing the available resources.
When you sign up for a Moomoo SG Universal Account, you’ll also unlock free learning courses and get to view free market data on US, Singapore, and China A-shares stocks.
Better yet, deposit S$100 and you’ll earn S$2* cashback daily for 10 days straight.
Learn how to kickstart your investment journey with Moomoo SingaporeRead more
Download the moomoo app for FREE on the App Store or Google Play. Claim rewards when you register for a Moomoo Singapore account!
All views expressed in the article are the independent opinions of Avenue One. Neither Moomoo Singapore nor its affiliates shall be liable for the content of the information provided. This advertisement has not been reviewed by the Monetary Authority of Singapore.
This article is brought to you by Moomoo.