In the past six months alone, WWD Beauty Inc has published wonderfully compelling stories on Brazil’s booming direct-sell business, the evolution of the Indian fragrance market, Sephora’s aggressive expansion into China and Southeast Asia and the global worldviews of some of beauty’s most powerful chief executives. But when we stopped to take stock, we realized that much of the uncertainty roiling the industry is happening in our own backyard: The U.S. The first half of the year has certainly presented a mixed bag: Prestige beauty sales shot up just as the consumer confidence index was heading towards a 30-year low; retail stock prices surged, but the unemployment rate stubbornly hovered at 9 percent. The contradictions aroused our curiosity, and the result is this, an issue entirely devoted to America.
We started by asking questions: Who’s shopping today? Why? What is she looking for in terms of beauty products and experiences? And how did the recession permanently alter her consumption patterns, overall and with beauty specifically. As you’ll see in “The Anxiety Gap,” the results are fascinating. One fact that became abundantly clear is that the affluent are clearly driving sales; the concept of the upper middle class has all but disappeared and the middle class itself remains wary about discretionary spending. “The recession is over, but the behavior people have learned is not,” retail analyst Wendy Liebmann told me during the course of my interviews. Discover what the permanent changes are, and how they will impact your business.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)