It isn’t just the end of summer sandal season, says the Wall Street Journal. Except for people at the very bottom of the economy, it actually might be an encouraging sign that inexpensive cosmetics aren’t flying off the shelves, because it means that consumers have tightened their belts after making much-delayed major purchases.
No, we don’t mean iPhones. Think bigger-ticket items, like cars, home renovations, or large appliances.
On the other hand, Walmart, a retailer that stocks many of Coty’s products, told investors that its customers aren’t coming in or buying as much, but not because they’re paying off a new deck. It’s because if they have a job, they’re nervous about losing it, and are nervous about the economy in general.
What Sales of $3 Nail Polish Say About the U.S. Economy [Wall Street Journal]