Many news articles report that cosmetics companies and men’s grooming companies have actually seen rises in their sales during these tough times. Skin care, makeup, shaving products, etc. were all stable. The only losses they reported were in fragrance sector. Do you think that beauty and grooming companies are recession proof?
I personally think that no matter how the economy is doing, women are still going to buy their makeup, men are still going to buy their shaving and skin care products. People may cut back on cologne and perfume. It makes it "recession proof".
Human beings connect beauty and grooming with success. As long as there are companies that run offices in big cities, small business ceo’s, women, etc etc this will be a secure industry as it has always been. There is something called "Dry cutting" in the salon industry. WOW, what a way to charge $350 for a style cut when the only thing used is a scissor and its done in 15 minutes. We are capitalists and along with that comes image. Image industries will always do well. I will always be able to buy $700 shoes even when I can pay for my mortgage, or a Bugatti Veyron when Im rich but when I get it home I realize it costs $22,000 to get a flat tire fixed. Another industry with some image built into it. Car manufacturing. Anything with image attached to it wont ever die or will be hard to kill…
no industry is recession proof; why?
people have less to spend on ANYTHING.
[yes, all items will still be bought but fewer items
per purchasing cycle]
References :
biz teacher
To some extent, I think you are right. However, it only goes so far. While women will buy mascara, it’s unlikely that most will buy the very high end stuff. Same with skin care.
Frankly, I’ll cut back on other stuff before I’ll cut back on fragrance.
References :
Human beings connect beauty and grooming with success. As long as there are companies that run offices in big cities, small business ceo’s, women, etc etc this will be a secure industry as it has always been. There is something called "Dry cutting" in the salon industry. WOW, what a way to charge $350 for a style cut when the only thing used is a scissor and its done in 15 minutes. We are capitalists and along with that comes image. Image industries will always do well. I will always be able to buy $700 shoes even when I can pay for my mortgage, or a Bugatti Veyron when Im rich but when I get it home I realize it costs $22,000 to get a flat tire fixed. Another industry with some image built into it. Car manufacturing. Anything with image attached to it wont ever die or will be hard to kill…
References :
Been in business development for 18yrs… The dry haircut and tire change for that car are real life examples…