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
”People 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,” 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.
”We are still indulging in our everyday luxuries,” said Lars Jagrén, head economist at the Swedish Federation of Business Owners (Företagarna) 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.
”You 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,” Jagrén 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.
”This is my one beauty treatment and I feel I must do something for my own well being,” said Balatoni to the paper.