It’s no secret that consumers have become a lot more savvy and informed on the world of skincare in recent years. For example, the peak Covid-19 years saw a dip in makeup sales and a surge in skincare. But even pre-pandemic, interest in skincare was already on the rise, thanks to various factors like social media (there are more than 100 million #skincare posts on Instagram) as well as industry-changing players like The Ordinary.
The latter popularised a more transparent approach to the world of skincare when it burst onto the scene in 2016 with its ultra-affordable products (most are priced below $20) that educated customers on the importance of knowing key ingredients and what they could do for your skin. Contrast that to the past, where consumers largely bought into brands’ romantic marketing spiels of some rare magical plant procured in distant lands that supposedly has the power to turn the clock back 20 years.
While The Ordinary’s science-y approach grew customers’ overall skincare knowledge, their products could also be described as largely simplistic formulas built around one key ingredient – which might mean purchasing several different serums to address various skin concerns from dehydration to hyperpigmentation.
Now, with inflation on the rise and a potential global recession teetering on the horizon for 2023, people understandably want to get more out of whatever they do choose to splurge on. Which is where products designed to perform multiple functions stand to shine – they help to streamline one’s skincare routine by combining several steps.
In theory, they help one to save money though that’s not always the case – multitasking products generally require a more layered and sophisticated formula. But one area they definitely help in is time; with more people back to working in the office, time-saving routines (especially in the morning) will definitely be a boon.