Board Director | Chairman | Treasurer | Expert Panel Member | Finance Professional
"The most beautiful makeup for a woman is passion. But cosmetics are easier to buy.” ― Yves Saint Laurent. Something interesting is happening in Australian cosmetics. In an otherwise dour retail environment, cosmetic stores are showing strong year-on-year growth. ANZ's household expenditure report illustrates interesting week on week cross sector dynamics that ring true on Yves observation. While cosmetic stores have had a great Autumn, other "passion" purchases are struggling; Clothing is down 14%, Jewellery is down 19% and Bars & Clubs down 20% YoY to June 1. So who are cosmetic stores' competitors? Other stores in the sector or other stores in other sectors? As discretionary spend becomes tighter, consumers are making cross product tradeoffs. Retailers are not just competing in category but also with substitutes. And how difficult is it to understand emotional tradeoffs in retail? If you'd like to know more about your customers before your competitors do, reach out and talk to DataCo Technologies. #datainsights #datacollaboration #retaileconomy #australianeconomy #cosmetics #retail
Could be post COVID return to work related?
Senior Project Director at Health Infrastructure
2moMy guess is it’s an updated iteration of the Lipstick Effect, Mani. It happens historically in response to crises.