Beauty Products Lose Their Appeal During Recession

An article appeared in the New York Times on September 19th talking about how the recent recession has caused sales of cosmetics and beauty products to fall.  Consumers appear to be spending less on cosmetics as they try to reign in their overall spending during these tough times.

According to the NPD Group, a market research firm, total sales of department-store beauty products in the first half of 2009 were down 7% compared with the same period last year.  This number includes skin care, makeup, and fragrances for both men and women.

However, Karen Grant, vice president and global industry analyst for NPD stated that one reason for the drop could be that people are replacing their high end, high priced department store products with lower end, lower priced drugstore products.

To read the full article, visit http://www.nytimes.com/2009/09/20/business/economy/20count.html?_r=1