Luxury beauty products have lost some of their glow

Marketplace

News, Business

4.6 • 8.5K Ratings

🗓️ 19 August 2024

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When consumers can’t afford what they used to, many are drawn to inexpensive luxuries. Take the so-called lipstick index: When the economy slumps, lipstick sales go up. So what does it mean, economically, that luxury beauty brand Estée Lauder reported sales were down 2% compared to last year? In this episode: shifting consumer beauty habits in the U.S. and China. Plus, everyone’s signing NDAs these days, convenience stores are upping their grub offerings and California fast-food workers got a major raise, but what about prices?

Transcript

Click on a timestamp to play from that location

0:00.0	It's the sound of another sale on Shopify, the all-in-one commerce platform to start, run, and grow your business.
0:09.0	And thanks to award-winning help with an extensive business course library, Shopify is ready to support your success every step of the way.
0:18.0	Sign up for a one-pound per month trial period at shopify.co. UK slash marketplace 22 all lower case.
0:26.7	Go to Shopify.co. UK slash marketplace 22 to take your business to the next level today. Shopify.co. UK slash marketplace 22.
0:37.0	On the program today, the high and the low ends of retail and more power to the power grid from
0:48.6	American public media this is market plans.
0:53.0	In Los Angeles, I'm Kai Rizdahl.
1:00.0	It is Monday, today, the 19th of August.
1:05.0	Good as always to have you along everybody.
1:07.0	Hey, so you're going to listen, right? To the speech, the one laying out our future, what's in store, where this country and this economy
1:16.2	might be going?
1:17.2	I mean, I know it's not till Friday, but...
1:19.7	Oh, wait, sorry. You thought I meant the speech tonight from President Biden or Thursday
1:27.0	from Vice President Harris? I mean, all right, watch them if you want. I, however, am talking
1:32.3	about Fed Chair Jay Powell's speech Friday
1:34.7	at its big symposium in Jackson Hole, Wyoming.
1:37.9	It will be, I tell you, a time for maximum tea leaf reading
1:41.9	as we all try to figure out what's in store for
1:43.6	interest rates come the Central Bank's September meeting. No offense to
1:47.6	politicians or political reporters intended by the way. A corporate headline now to give us some insights into a slice of the global economy that has
1:56.1	been doing pretty well the past couple of years.
1:58.4	Este Lawder reported this morning that sales for the fiscal year just ended were off from the year prior.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Marketplace, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Marketplace and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.