No recession cuts in Swedes' 'vanity' budget
Published: 31 Oct 2011 15:54 GMT+01:00
Updated: 31 Oct 2011 15:54 GMT+01:00
â€ťPeople still need to have haircuts. Your hair is a head covering you carry all the time and it shows how you are feeling, so people continue to spoil themselves,â€ť said hairdresser Meral Samaan from a Stockholm hair salon to daily Dagens Nyheter (DN).
According to HUI Research (previously knowns as Handelns Utredningsinstitut), the retail industry has taken a beating, forcing forecasters to downgrade growth expectations for this year.
But despite an ongoing recession there are some retail areas that are doing well for themselves.
Within the health & beauty industry turnover increased by 6.3 percent during the first two quarters this year, compared to the same period last year, according to SCB.
â€ťWe are still indulging in our everyday luxuries,â€ť said Lars JagrĂ©n, head economist at the Swedish Federation of Business Owners (FĂ¶retagarna) to DN.
One of the reasons why Swedes aren't cutting down their beauty routine is a current trend toward health and beauty in general, which is also reflected in sales of sports and leisure equipment doing better than other retail areas.
â€ťYou want to look healthy and fresh and take care of both your insides and your looks. And these services aren't costing consumers that much either,â€ť JagrĂ©n said.
Isabella Balatoni, a visitor to Samaan's salon, told DN that she would not consider cutting her own hair at home, regardless if she'd be forced to make another economies.
â€ťThis is my one beauty treatment and I feel I must do something for my own well being,â€ť said Balatoni to the paper.