RICHMOND, Va. (WWBT) - In the glitz and glamour of makeup, moisturizers and hair products is a money pit for women.
According to a study conducted by OnePoll for Groupon, the average woman spends about $313 per month on her appearance.
“It’s expensive! It’s $52 and you use it every day. The ingredients are extremely similar to the ingredients in this $8 primer,” said Meg Pryde.
And she would know because she’s the creator of Brandefy. An app for your smartphone that allows shoppers to compare prices. It helps beauty enthusiasts find the best beauty products for their needs. Basically raising awareness to less expensive, but similarly priced alternatives.
In the beauty industry, these are often called ‘dupes’. And Brandefy markets itself as helping you find the best dupes.
Brandefy is headquartered at Lighthouse Labs in Shockoe Bottom, a nationally ranked accelerator program that helps small companies like Brandefy get on their feet.
“Richmond is our home. Richmond is our headquarters. You have great companies that you pull amazing tech talent from and universities,” says Pryde.
At first, Brandefy was comparing anything you bought at the grocery store. Now, they shifted focus and now have 25,000 active monthly users.
Meg says women don’t want to pay too much for beauty products.
“Especially when they don’t have to because sometimes it’s actually worth it to pay $80, but a lot of times you’re just paying for marketing,” said Pryde.
The goal is simple - save shoppers money on beauty. You can search just about any type of product on the app, and you’ll get a side-by-side comparison of a less expensive version with real reviews from other users.
They’re not just looking at the smell and feel of a product, but how it functions. For skincare reviews, the testers have a science background.
“We also look at the ingredients because the ingredients drive performance,” added Pryde. And Brandefy is also jumping into the subscription box world - launching the Brandefy box later this winter.
Brandefy is free to use and it’s in your app store right now.
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