When times are tough, the Beauty industry seems to be one of the 50 recession-proof industries.
Make-up has the instant effect of making them feel gorgeous and self-confident, even if it is just a lipstick, mascara or a stroke of blusher. In 2017, pharmaceutical, medical goods, cosmetic and toiletry sales in South Africa have outperformed other retail segments over a period of 12 months, with sales volumes rising 3.4%.
In a recent survey, only 3% of women maintained that they felt attractive without make-up. Since the condition of the skin canvass has a large effect on the final result, the process starts with skincare that would hydrate, plump, and reduce the appearance of fine lines and wrinkles, be it by using active ingredients or by optical illusion.
Cosmetic kitchen counter chemists: Based on research done by Mintel, one of the four key trends set to impact the global beauty and personal care industry over the next decade includes “gastronomia.” Many cosmetic entrepreneurs in the past started off in their kitchens, as opposed to the IT entrepreneurs who started in their garages, and a growing number of consumers will get ‘cooking’ by creating customised beauty products at home – some of which will be offered at local craft markets. The Stephenson Soap bases and our semi-formulated Hand & Body, and salon-grade Conditioner base is a good start!
Among a list of about 50 suggested recession proof business ventures, other businesses that are not affected by an economic melt-down, are pet-pampering, online dating services, internet marketing, selling baby products and services for retirees. We selected these because they complement and / or overlap with the cosmetic industry.
Baby products: New babies mean new business and since babies will always be born, baby products will therefore always be in demand. With baby products such as oils and powders, as well as pampering products for expecting mothers, the potential for profitability will always exist. Colloidal oats has been proven to be safe in a variety of baby products.
Pet pampering: Similar to the baby industry, the pet grooming industry seems unaffected by recession tendencies in the economy. People with pets still seek out quality services and products for their furry friends. The downside here is that this industry is not regulated as far as ingredient listings go.
Social media: Who would post a selfie, wedding photo or profile picture for a first face-to-face date without at least enhancing beautiful eyes, lips or hair with cosmetics?
Internet marketing: Virtually every product and/ or service required are a few clicks away. This creates cost-effective business opportunities for cosmetic entrepreneurs and their potential customers. Thanks to mobile access, transactions can even be concluded in remote areas.