Mintel, the world's leading market intelligence agency, have released a free report looking at "How the beauty industry survives a recession."
The report details how "Europe looks to Spain and Italy for indicators of a post-COVID-19 future, but talk of a recession on the horizon makes it crucial for beauty businesses to act now and they should start by looking back. The last recession created specific circumstances that look set to return this time around. Small beauty and personal care brands and startups should take advantage of cheap advertising rates now, while beauty services must examine their survival strategies."
Download the new report for a topline view of the research, analysis, and recommendations on these topics and get answers to some of the most crucial questions:
– How is the current consumer mindset going to impact purchase behaviour in the short-, medium-, and long-term following the COVID-19 pandemic?
– What can the last recession teach us about shopper budgets, discount culture, discount strategy, and the meaning of value?
– Will there still be a place for simple luxuries and self-care in the forthcoming recession environment?
– What role will new product innovation play over the next three, five, and 10 years?