Listen Now: Treat Yourself
People are cutting back on a lot of things, except one. I’m Brian Banmiller on Business.
Turns out there is something people are willing to spend money on, how good we look. Target, Macys, and Nordstrom all highlighted strong sales of beauty items in their fiscal second-quarter earnings reports that came out over the past few weeks. Walmart also reported an increase in beauty business, citing strong sales in cosmetics, skin and hair products. So, what has people shelling out for their best look? Experts say people who have spent the last few years behind they’re computer screens are out and about. In some cases, they are meeting co-workers for the first time in person and want to give off the best impression. In addition to that, instead of Netflix and chill, people are back out at restaurants and bars. Dating has picked up again, with people going out and looking for love. There is also the “Lipstick Index” theory which believes that instead of pricier items people will treat themselves with something not as expensive as lipstick or a new face mask. Sometimes, it’s the little things in life. Brian Banmiller, CBS News.
CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.
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See highlights from Brian's recent Ernst & Young "Continuing Education Conference" speech and hear directly from conference attendees.
Phoenix Convention Center
August 28th, 2019