As global economies attempt to recover from the adverse effects of the pandemic, a new global research study commissioned by Avon, the personal care, cosmetics and makeup brand, brings into the spotlight the impact of the rising cost of living on the livelihood of women worldwide.
The findings come from a global study of women across eight countries and three continents, as beauty giant Avon and its team of scientists and experts discover just how women are being affected by the cost-of-living crisis – and how the brand can help.
A huge 98% of women globally have been affected by the cost-of-living crisis, with over half of women
feeling anxious about the future (57%), and over a third of women feeling out of control when it comes
to finances (35%) and guilty that they can’t provide enough for their family (34%).
In South Africa, the effects of an ailing economy are exacerbated by loadshedding which continues to
have an adverse effect on economic growth in an environment where the devastating effects of the
pandemic are still felt. Revenue losses brought about by power cuts are estimated to be around R700
million daily which compromises the ability to create and sustain jobs and businesses.
The side hustle era
4 in 5 women (80%) worldwide have or are considering taking up a side hustle to help with the costof-living increase. While over half of these women (54%) are doing so to help pay their bills, one in three women (36%) want to be able to afford the little luxuries they used to have, such as takeaway meals, coffees and new clothes. A fifth of women (21%) want to continue being able to buy their favourite beauty products.
To circumvent this, Avon, a brand that supports and uplifts women by giving them an opportunity to
be active participants in the economy through its direct-selling model, is rolling out its Impact Challenge that it committed to as part of its 136 year anniversary celebrations.
The Impact Challenge intends on continuing the organisation’s legacy of creating better futures for women.
“We are aware that aspiring entrepreneurs are dissuaded from starting their business by the capital outlay required or the hassle that comes with starting a business,” Mafahle Mareletse Managing Director of Avon in Turkey, Middles & East and Africa, comments.
“Avon is aware of these challenges hence it makes it very easy for micro-entrepreneurs to realise their own ambitions and have enhanced our relationship selling model to provide further flexible opportunities to grow financially.”
This includes digitising its business model, with an improved mobile user experience which allows
Representatives to easily connect with their customers and sell online through the Avon On app and
Avon Store. Avon has also created an industry-leading, personalised compensation model, Avon
Rewards, that starts from the very first sale.
The company has already put in place an online registration platform that automates the process of joining Avon removing the hassle of paperwork.
The choice between quality and affordability
Avon’s research into the cost of living also reveals the commonly held misconception that products
with a higher price tag are higher quality. Over two thirds of women (69%) around the world believe
that more expensive makeup products are higher quality. This increases to 71% for perfume and 73%
for skincare. However, fewer women believe the same rule applies to clothes (62%).
Mafahle Mareletse, Managing Director of Avon in Turkey, Middles & East and Africa, concludes: “As a company that serves women because we believe that by creating a better world for women we are creating a better world for all, we have been steadfast in creating opportunities for women to benefit from the growing beauty industry.
We have a long history of doing beauty differently, creating top quality makeup, skincare and fragrance products without the luxury price tag – whilst offering women the chance to transform their lives for the better by earning and learning on their own terms. With many women around the world looking for ways to save money and start a side hustle, I’m proud to be part of a brand that uplifts women and helps them start up as entrepreneurs.”
