PARIS — There’s a latest normal for malls in the case of beauty selling.
In accordance with the International Association of Department shops, or IADS, the retailers’ cosmetics and sweetness business grew on average 1 percent between 2021 and 2022, to practically reach their pre-pandemic level. Nonetheless, the category’s fundamentals have shifted dramatically.
Through the peak of the health crisis, big brands shifted to direct-to-consumer, while in tandem, people’s expectations and tastes modified, shaking up the market. Big beauty names became challenged like never before by upstarts and area of interest brands, which sometimes streaked past them.
Consequently, malls adjusted their strategy and invested in area of interest fragrances...
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