Krispy Kreme Prices Are Going Up And Your Makeup and Beauty Purchases Are Probably Next
As we continue to venture and navigate our new world we are learning many different things about each other, about society, about working from home, about interacting with each other at a distant, and of course, we now have to learn to live with inflation.
Krispy Kreme announced today they are raising prices in September because of inflation and as we already know many feminine products are already experiencing price increases. We’ll continue to see this as the pandemic rages around us. It’s a very classic care of supply meeting demand.
Right now the current inflation rate is at around 5% and we keep hearing promises of it dropping back to a more normal rate sometime in the near future. But it is here now and it is something we have to deal with. In the grand scheme of things, worrying about how much your makeup or beauty purchases will be effected by this in the future is probably not as important as how much gas costs or groceries for your family. But makeup is our game here so, we’re going to touch on inflation in the beauty world.
If you purchased a $20 piece of makeup back in the 70s with the current inflation rate as it is, pre-pandemic, it’ll probably set you a bit over $50 bucks. We’ve discussed the beauty bubble breaking for a very long time and that maybe just maybe COVID might have helped that along a little bit. I do backtrack on that idea a lot. If anything we’re noticing that COVID has literally helped certain brands a lot and their sales in 2020 rose instead of dropped due to consumers having more leisure time to explore self care and there seems to be a lot less resistance to paying higher prices for items as some people had a bit more disposable cash. The lipstick index is actually no longer a relevant way to measure how our beauty world is doing simply because the self care revolution came about.
But the important thing here is we still suffer an issue of supple and demand which you see in stores where it would be typical to see shelves lined with a variety of items and now are experiencing low inventories especially during seasonal releases. The fact we are seeing less could mean that prices will raise in the beauty world. And this could be attributed to many factors one of which could be the fact importing certain items is a lot slower than it was back before all of this started.
We’ve discussed how late seasonal releases are this year and this is probably a good case study in how things may pan out in the beauty world going forward. We can hope it’ll be temporary but it’s always a good idea to be prepared for a rainy day.
I expect slower releases this year and I do expect to see some interesting prices on items going forward. I also believe that limited edition might just come to mean something once again.
What do you think?
Are makeup and beauty purchases going to be hit by inflation?