When BeautyStat, the market research firm, queried its online community if they are still buying the same products and brands, or whether they’ve traded up or down, 54 per- cent responded their spending has stayed the same, 33 percent have traded down and 13 percent have traded up. “Even though the economy is down, my skin still requires higher quality products,” says respondent Lisa P. “While I haven’t traded down, I look for the best deals. If Sephora has a coupon over Ulta, I’m there. My brand loyalty is still there, but not my store loyalty.”

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