Best read of my day. I was really moved by the quote "a consumer is just as likely to trade off a night cream for another night cream as a night cream for a personal trainer." As customers face uncertainty, they are comparing costs against previously unrelated mental buckets - e.g., Yoga vs Skin cream. What does this mean for other businesses - at work we talk about not just beating our direct competitors, but all home tech purchases. The competition scope explodes & you need to be better
Why more companies are fighting over consumers' beauty, health and wellness spending
As consumers prioritize holistic retail purchases, beauty, health and wellness are increasingly converging into one category and one consumer budget.
cnbc.com