Why beauty is big business in an economic downturn
May 06, 2015
Category: Management Courses
Now here’s something that will surprise you, when economic misery takes hold, women spend more on beauty products and beauty treatments.
American researchers at four universities have discovered that the more insecure the economy, the more women spend on lipsticks, make-up and therapies.
Studies show that on average women earn 19% less than men and when times are tough they try to boost their search for greater financial security by looking better.
Spending more money at a beauty or a hair salon helps women look more attractive so they can secure promotion or a better job. Looking good and feeling fabulous also means you’re more likely to catch the eye of financially secure men.
Previous research has also shown that consumers spend more on luxury goods during a recession in order to feel better when times are tough.
So if you are thinking of studying a subject which will be financially rewarding as the economy takes a downward turn in Australia you should consider enrolling onto our Diploma of Beauty or Diploma of Salon Management and study Now Pay Later.