Buckle your seat belt; it’s time to get busy. The growth rate of prestige beauty market sales have been tapering in the U.S. since May and there’s a looming gap in the calendar ahead, with six missing shopping days between Thanksgiving and Christmas, the industry’s biggest headache in seven years.
What makes the calendar more worrisome is that there is a growing sense that consumer buying preferences may be undergoing a seismic shift. “The consumer is open to spending; she just doesn’t know if she is driven to spending it on beauty,” says Karen Grant, vice president and global beauty industry analyst at NPD Group. Grant, who has noticed a decided broadening of the beauty shopper’s scope of self indulgence into other categories, succinctly asks: “What is going to be the new shiny object?”
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"