Beauty Retailers are Holding Their Breath
If you don't think that the current economic climate has the major beauty retailers holding their breath for the outcome, think again. I think the phrase "trickle down economics" holds true for all companies who depend on mainstream people to buy their products and services. The economic engine is slowing down and we are spending less and taking stock of our needs rather than our wants. Yes, even those designer shoes and purses are getting a second thought. In my video on Coach I said "what recession?", but it was intended as a pun and not to be taken seriously. As the jobless rate continues to increase, putting thousands of people out of work it only makes sense that no person or company will be completely exempt from the fallout. To my surprise even my favorite department store "Macys" will be closing some of their stores to shore up their economic position. On an up note, companies are starting to do some serious marketing to get consumers into the store to buy their products. As you have seen, Estee Lauder has really been proactive with sales and free giveaways. I see more of this from other beauty retailers coming in the future because consumers will need to justify why they spent "X" amount of dollars and they can say "oh, I got a free bag, lipstick, lipliner", etc. Hopefully, we will see our economy begin to recover and prosper, but right now it doesn't look good.




