The news: Prestige beauty companies are rolling out more products at lower price points to entice Gen Alpha and teen shoppers, per Women’s Wear Daily.

The examples:

• Valentino Beauty launched a line of hair and body mists, which at $49 cost less than a third the price of its best-selling eau de toilette.
• Le Labo’s popular Santal 33 scent is now available in hand soap and hand lotion priced at $53 and $85, respectively—compared with $240 for a 50-milliliter bottle of the eau de parfum.
• Acne Studios par Frédéric Malle’s new bath and body collection is priced between $90 and $95 versus $295 to $470 for its perfume.

Implications for the beauty industry: While offering lower-priced entry points is not a new strategy, the trend is accelerating as brands try to win consumers’ attention in a crowded market. Cassie Cowman, cofounder of beauty consultancy View From 32, told WWD that weakening brand loyalty, growing consumer expectations, and shorter attention spans are driving brands to rely on accessible pricing—as well as innovation and marketing—to stay relevant.

Expanding entry-level products gives companies more opportunities to convert younger consumers, who have less spending power but fervent interest in premium beauty.

• Nearly two-thirds (60%) of teens are already buying prestige beauty products, while 70% of parents purchase prestige brands for their children, according to Boston Consulting Group.
• Teens who buy prestige beauty spend 2.6 times more on the category than those who solely buy mass beauty and purchase 1.4 times more products annually than those who don’t.

Adjustments to pricing architecture can also help prestige brands better compete with K-beauty companies, which are gaining share by combining low prices and perceived quality, as well as keep mass brands at bay. More accessible products could also fuel the lipstick effect, as otherwise cautious shoppers look for small luxuries to splurge on.

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