Despite record-high inflation, recession fears and rising rates of interest, the sweetness sector is cautiously optimistic a couple of successful holiday season within the U.S.
As has been seen in previous downturns, resembling the 2008 financial crisis, while there was trade down, generally nobody leaves beauty — and thus far major beauty firms haven't yet reported evidence of trade down, with the prestige sector booming.
“Looking ahead, we see some but not much downside risk to the sweetness segment; indeed, we predict the category shall be one among the winners over the lucrative holiday period,” Neil Saunders, managing director of GlobalData, said.
He noted that while the “lipstick effect” — the speculation coined by beauty mogul Leonard A. Lauder that beauty sales increase...
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