20 Sep 09 Beauty Sales Going Down As Recession Continues

The New York Times has reported that for the first time since the U.S. recession began beauty products are really taking a serious hit, especially those from higher-end department stores. The total is now at $3.7 billion for the first half of annual results, which is a 7% decrease from last year.

This significant downturn has many experts worried, as it shows a reluctance to buy what would normally be considered necessities. In this survey, run by the NPD Group, beauty products refers to all lines of skin care, hair care, makeup, fragrance, and products for both men and women. As it is far reaching, it shows the scope of the sudden drop in profits.

All of this comes after Federal Reserve Chairman, Ben Bernake, came forward in a speech to announce that the recession is over. While this created a sudden flurry of activity on Wall Street, consumers in everyday stores are reluctant to loosen the purse strings just yet, especially on beauty products and other high cost items.

Instead, many people have said they are turning to making natural products from items such as yogurt, avocado, and honey. However, considering rising food costs, this might not be the solution for long.