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Transcript

Beauty on a Budget · She's On The Money

• 0:00
  Speaker 1: Hello. My name is Santasha Nabananga Bamblet. I'm a proud
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  Speaker 1: order order Kerni Whoalbury and a waddery woman. And before
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  Speaker 1: we get started on She's on the Money podcast, I
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  Speaker 1: would like to acknowledge the traditional custodians of the land
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  Speaker 1: of which this podcast is recorded on a wondery country,
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  Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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  Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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  Speaker 1: and the storytelling of you to make a difference for
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  Speaker 1: today and lasting impact for tomorrow. Let's get into it.
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  Speaker 2: She's on the Money, She's on the Money.
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  Speaker 3: Hello, and welcome back to She's on the Money, the
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  Speaker 3: podcast that's here to help you keep more of your
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  Speaker 3: hard earned cash where it belongs in your pocket. Have
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  Speaker 3: you ever wondered why your beauty draw is overflowing with
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  Speaker 3: products you baalues. It's not just you, it's me too, sadly,
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  Speaker 3: and it's all part of the game beauty brands play
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  Speaker 3: to keep us spending. I'm Victoria Devine here to break
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  Speaker 3: down the marketing tricks that get us to hit ad
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  Speaker 3: to Kart and how to shop smarter without falling for
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  Speaker 3: the hype. Have you ever noticed how two beauty products
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  Speaker 3: with the exact same ingredients can have one hundred dollars
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  Speaker 3: difference in price. Let me break down why that happens.
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  Speaker 3: It's all about pricing strategy. Brands often leverage their image,
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  Speaker 3: their packaging, and marketing to create perceived value, allowing them
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  Speaker 3: to charge a premium even when the formula is nearly
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  Speaker 3: identical to a cheaper alternative. You often find that parent
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  Speaker 3: companies use this to their advantage. Right they have both
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  Speaker 3: a luxury and a budget brand in their portfolio, each
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  Speaker 3: targeting different customer segments. Procter and Gamble, for exam, owns
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  Speaker 3: a Lay, a popular mass market skincare brand, and also
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  Speaker 3: SK two, a luxury skincare line. Ola caters to budget
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  Speaker 3: conscious shoppers and me for like ever who still want
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  Speaker 3: effective skincare solutions, whereas SK two targets customers willing to
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  Speaker 3: pay a little bit more for a luxury experience. This way,
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  Speaker 3: they capture both ends of the market, whether you're splurging
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  Speaker 3: on a high end serum or saving with a chemist version.
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  Speaker 3: They're maximizing their profits for every type of shopper, and
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  Speaker 3: the psychology behind pricing plays a huge role in how
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  Speaker 3: we perceive products, especially in the beauty space. We are
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  Speaker 3: often wired to think that if something costs more, it
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  Speaker 3: must be better, and this is known as the price
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  Speaker 3: quality heuristic. A study published in the Journal of Consumer
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  Speaker 3: Research found that participants rated identical skincare creams as more
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  Speaker 3: effective when they were presented with a higher price stag
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  Speaker 3: even though guys the products were exactly the same. This
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  Speaker 3: shows exactly how easily price can influence our perception of quality,
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  Speaker 3: tricking us and to spending more than necessary just because
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  Speaker 3: of the cost. This perceived value is also because luxury
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  Speaker 3: brands aren't just selling a product, right, They're selling an
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  Speaker 3: entire experience. Everything from the sleek packaging to the instore
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  Speaker 3: displays and even the unboxing can make a product feel
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  Speaker 3: more valuable. That prestige comes with a hefty price tag, though,
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  Speaker 3: and as consumers, we sadly are paying for that brand
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  Speaker 3: story just as much as the actual ingredients. And my friends,
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  Speaker 3: then there is marketing, the celebrity endorsements, the glossy adds,
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  Speaker 3: influencer partnerships. It all costs money, and those costs they
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  Speaker 3: get passed down to us. On top of that luxury
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  Speaker 3: brands often invest heavily in research and development, which, while important,
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  Speaker 3: doesn't always mean that the formula is groundbreaking. In fact,
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  Speaker 3: many high end and chemist products nearly share identical ingredients lists.
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  Speaker 3: So let's talk about another marketing strategy that gets us
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  Speaker 3: every single time, literally me, every single time buzz ingredients.
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  Speaker 3: You've probably seen a million different products flaunting hyaluronic acid
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  Speaker 3: or retinol right on the packaging. Right. They sound impressive
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  Speaker 3: and they make us feel like we're getting cutting edge
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  Speaker 3: skin care. But my friends, here's the catch. Often those
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  Speaker 3: ingredients are included in such low concentrations that they won't
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  Speaker 3: actually deliver the promised results. If the results were even promised,
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  Speaker 3: maybe it was just we have hyghaluronic acid in this product.
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  Speaker 3: It's all about tapping into the hype of popular ingredients
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  Speaker 3: without necessarily backing it up with any type of effectiveness.
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  Speaker 3: Skincare brands also like to use terms like filler or
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  Speaker 3: lift to create the illusion that their products can deliver
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  Speaker 3: really dramatic treatment level results like those of cosmetic procedures. However,
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  Speaker 3: these words often lack substance. There's no laser technology in
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  Speaker 3: skincare or actual filler ingredients. In that jar. It wouldn't
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  Speaker 3: even get into your skin. It's clever marketing tactics that
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  Speaker 3: play on our desire for being youthful having lifted skin,
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  Speaker 3: without the expense or invasive of the procedures that would
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  Speaker 3: actually afford us those Then, my friends, there are the dupes.
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  Speaker 3: Who doesn't love a good bargain? I love a good dupe.
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  Speaker 3: We've talked about them before on the Pod. Their budget
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  Speaker 3: friendly alternatives to high end products, which offer similar results
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  Speaker 3: without the hefty price tag money win, which makes them
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  Speaker 3: so damn popular. But there's a fine line. While replicating
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  Speaker 3: a product's general effect is perfectly legal, it really crosses
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  Speaker 3: into murky territory when brands start copying specific elements like
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  Speaker 3: their packaging, their branding, or patented formulas. That's where we
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  Speaker 3: get into IP theft. MC Beauty is a company that
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  Speaker 3: has built its brand on providing dupes of popular products,
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  Speaker 3: and for them, it's paid off big time with an
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  Speaker 3: estimated get this, annual revenue of twelve point one million dollars.
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  Speaker 3: Their version of Charlotte Tilbury's Hollywood flowless filter doesn't just
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  Speaker 3: draw inspiration, guys, it's a near replica with the round
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  Speaker 3: a glass bottle and the fluted rose gold. It's so
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  Speaker 3: close that it had the Internet screaming how on earth
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  Speaker 3: are they getting away with it? And honestly, I'm sitting
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  Speaker 3: here wondering exactly the same. But I saw an ABC
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  Speaker 3: story where MC beauty's IP lawyer explained that they make
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  Speaker 3: very small tweaks to avoid breaking trademark laws. So, for example,
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  Speaker 3: while Charlotte Tilbury has Hollywood Flowless filter, trademarked the word
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  Speaker 3: flawless on its own, it's not protected, so MC beauty
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  Speaker 3: uses it freely and liberally. And for the packaging, Charlotte
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  Speaker 3: Tilbury's diamond logo is trademarked, so MC beauty swapped it
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  Speaker 3: for a simple circle, just enough to stay on the
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  Speaker 3: right side of the law. These very minor twigs have
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  Speaker 3: allowed MC beauty to skirt legal boundaries by avoiding direct
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  Speaker 3: copies of protected elements while they're still creating products that
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  Speaker 3: look almost identical to the originals. But even if they're
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  Speaker 3: not technically breaking the law, to me, it raises a
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  Speaker 3: pretty big ethical dilemma. Is it really fair piggyback off
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  Speaker 3: the hard work and creativity of brands that have invested
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  Speaker 3: so much into developing something truly original. For me, let's
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  Speaker 3: be honest, it gives me the ick. In the same
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  Speaker 3: ABC story, when asked about the ethics of copying high
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  Speaker 3: end products so closely, m CO Beauty's owner shrugged it
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  Speaker 3: off with a really dismissive If you don't like it,
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  Speaker 3: don't buy it. It's like she's sidestepped to the entire
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  Speaker 3: ethical conversation, focusing solely on the legalities and consumer demand.
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  Speaker 3: But for me, it's more than just about following the rules.
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  Speaker 3: They're capitalizing on someone else's creativity without adding anything new.
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  Speaker 3: I'm one for market research, so I have tried both
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  Speaker 3: the original and the jupe, and in my opinion, the
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  Speaker 3: similarities actually end at the visuals. It feels like MC
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  Speaker 3: beauty has leaned heavily on the social media hype, banking
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  Speaker 3: on the visual appeal to luring consumers into thinking that
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  Speaker 3: they're getting a really comparable product, But in reality, the
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  Speaker 3: dupe doesn't deliver the same quality or results as the original,
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  Speaker 3: making it feel like a cheap trick rather than a
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  Speaker 3: smart and savvy alternative. So how do we outsmart the
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  Speaker 3: beauty aisle and avoid falling for all these marketing tricks?
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  Speaker 3: Well after the break I'm going to be talking savvy
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  Speaker 3: shopping strategies. All right, my friends, we are back and
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  Speaker 3: we are talking beauty. Now, let's get into the good stuff.
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  Speaker 3: How to keep your paycheck from disappearing on beauty products
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  Speaker 3: that just don't deliver. Here are some savvy shopping tips
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  Speaker 3: to help you make better choices. First, my friends, you
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  Speaker 3: need to know your skin type and your specific beauty needs.
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  Speaker 3: What works for an influencer on TikTok might be a
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  Speaker 3: perfect recipe for clogged paws, or it might even break
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  Speaker 3: you personally out. Beauty is unfortunately, unfortunately, not one size
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  Speaker 3: fits all, so understanding what your skin needs can save
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  Speaker 3: you from wasting money on trendy products that aren't the
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  Speaker 3: right fit for you. And another thing, which is a
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  Speaker 3: bit sad, because nobody wants to admit that they are
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  Speaker 3: getting a little bit older, but your skins need change
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  Speaker 3: over time, So understanding these shifts based on your age
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  Speaker 3: and help you adjust your routine accordingly. Next, my friend,
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  Speaker 3: we're going to focus in on ingredients that are proven
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  Speaker 3: to work for your specific skin type and the concerns
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  Speaker 3: that you have. So instead of chasing the latest buzzwords,
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  Speaker 3: no laser here, look for products with effective concentrations of
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  Speaker 3: ingredients that are then backed by science. Don't be swayed
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  Speaker 3: because everyone's using it. What matters is whether it actually
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  Speaker 3: suits your skin or not. Another tip is read the
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  Speaker 3: ingredients list, not just the front label. Brands love to
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  Speaker 3: highlight the buzzworthiness ingredients on the packaging, but the real
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  Speaker 3: story is often in the fine print on the back
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  Speaker 3: of the bottle. In Australia, beauty brands are required to
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  Speaker 3: list ingredients on their product labels in descending order of quantity,
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  Speaker 3: so if that star ingredient is listed way down the bottom,
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  Speaker 3: there might not be enough of it to actually do
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  Speaker 3: anything good for your skin. The other thing that I
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  Speaker 3: think is really important is beware of the dupes. They
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  Speaker 3: often clickbait. Dupes can be tempting because they promise the
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  Speaker 3: luxury look for less, but they don't always live up
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  Speaker 3: to the hype. Many jeops are marketed heavily on social media,
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  Speaker 3: creating a buzz that can be more about getting clicks
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  Speaker 3: and sales than delivering quality results. While some jeops do
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  Speaker 3: genuinely do a good job, others might fall short in performance,
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  Speaker 3: quality or longevity. Before buying, look for a really thorough
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  Speaker 3: comparison and some honest reviews to see if the dupe
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  Speaker 3: is truly worth it or if it's just a really
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  Speaker 3: clever marketing ploy. So one of the smartest ways to
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  Speaker 3: save money on beauty products is actually finding your own droops.
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  Speaker 3: Look for budget friendly alternatives that contain the same key
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  Speaker 3: ingredients as high end items. So start by identifying active
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  Speaker 3: ingredients in your favorite luxury products like hyaluronic acid, niacinamide,
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  Speaker 3: or even vitamin C. Then search for more affordable brands
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  Speaker 3: that feature those same ingredients in similar concentrations. By focusing
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  Speaker 3: on ingredients rather than brand names, you can build a
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  Speaker 3: really effective skincare routine that works for both your skin
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  Speaker 3: and importantly for me your budget. Another big money saving
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  Speaker 3: hack is to test it before you invest it. Ask
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  Speaker 3: for samples or buy travel sizes to see how your
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  Speaker 3: skin reacts before committing to a full size. Especially for
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  Speaker 3: pricier items, we have to do is ask at Mecca.
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  Speaker 3: They are so kind and don't forget to know the
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  Speaker 3: difference between your needs and your wants. That's something that
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  Speaker 3: I need to remind myself of time and time again.
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  Speaker 3: But just because something is all over social media, my
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  Speaker 3: friend it doesn't mean it's an essential. Be sure to
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  Speaker 3: read unbiased reviews, and be skeptical of influencer promotions that
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  Speaker 3: might just be sponsored. Influencers are often paid to hype products,
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  Speaker 3: so look for the opinions of people who aren't necessarily
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  Speaker 3: financially tied to the brand. And remember, just because a
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  Speaker 3: product is popular, it doesn't actually mean that it's better
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  Speaker 3: for your skin or even your wallet. And here is
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  Speaker 3: a little bonus shopping trip that I just learned. My
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  Speaker 3: producer Emma was telling me that she was buying mascara
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  Speaker 3: and foundation and chemistphare House right and even though they
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  Speaker 3: were on sale, money win. She's a genius. So she
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  Speaker 3: checked online and she saw that the products were half
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  Speaker 3: priced at a different store. And since I'm sorry, Chemists Warehouse,
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  Speaker 3: we're outing you here. But since Chemists Warehouse price matches,
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  Speaker 3: instead of paying thirty seven dollars, she paid twenty five bucks.
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  Speaker 3: A quick online search when she was in store made
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  Speaker 3: all the difference. And that is a total money win.
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  Speaker 3: And you know what, ultimately, your beauty routine should be
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  Speaker 3: about what makes you feel good inside and out. Shopping
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  Speaker 3: smart means knowing when a jib is a good deal,
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  Speaker 3: and when it's just hype, and I want you to
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  Speaker 3: stay really critical of flashy promises that just don't deliver.
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  Speaker 3: It's less about the price tag and more about making
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  Speaker 3: thoughtful choices that serve your skin and importantly, your budget.
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  Speaker 3: Thank you for joining me today on I don't Know
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  Speaker 3: a very fun beauty rand. I'm heading straight back home
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  Speaker 3: to sadly clean out my beauty drawer and part ways
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  Speaker 3: with those barely used products that over promise and let's
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  Speaker 3: be honest, have under delivered. They're out. Have a good Saturday, guys.
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