Prestige fragrances in the U.S. posted the steepest loss in first half 2009, declining -10 percent in dollars versus first half 2008. Women’s and men’s prestige fragrances both posted 10 percent declines from a year ago.
— Read the whole thing at NPD Reports on First Half U.S. Beauty Retail Industry.
As Johnny Cash famously sang at Folsom Prison, I’m busted. At the end of the month, my hours at work will be cut back a third, leaving me to scramble for freelance work to make up the gap. And I’m one of the lucky ones. Some of my coworkers have been laid off. Many of you are undoubtedly feeling the recession’s pinch, too. We’re eating beans and rice, turning down invitations to go out, and forgoing two-ply toilet paper for whatever’s on sale. I can pass up a new pair of shoes without missing a beat, and although I enjoy eating out, I’m happy to cook at home. What really gets me down is knowing that, for now anyway, new perfume is out of the question.
Right now, I’m longing for a bottle of Hermès Bel Ami. Plus, I just know that an earthy, dry jasmine fragrance (any suggestions?) would change my life. A non-perfume lover who stumbled on this post might say, “Boo hoo, no perfume. Well, I can’t pay my mortgage.” I can’t argue with that. But I do live an unusually thrifty life compared to that of most Americans: no cable, no cell phone, no gym membership, and my car has been paid off since 1986. (Yes, you read that right.) Nearly all my wardrobe is culled from thrift shops and vintage clothing stores, I bicycle whenever I can, and even my cat came from the Humane Society with a 30 percent discount. Perfume is my great extravagance…
Caroline Ruggiero, a native of Rego Park, Queens, who has sold perfume for 32 years, repeats the advice her mother gave her from her time selling cosmetics during the Depression: Women will always spend on things like lipstick and perfume.
— Find out how the beauty counter at Barneys is faring during the recession in Even in Tough Times, It Seems, a Person Needs Mascara at the New York Times.
Today's poll was suggested by Kimberly, who'd like some advice on how to be a perfumista on a budget. Specifically, she asks how you go about weeding out your wish list, and how to avoid impulse buys.
Feel free to offer any helpful advice for saving money while continuing to feed your perfume habit.
Note: image is funny money via thehutch at flickr; some rights reserved.
Even people with extra money in their wallets aren't buying luxury items these days. Cornell University economics professor Robert Frank, who writes the Wall Street Journal blog called "The Wealth Report" talks to Madeline Brand about the trend.
— Listen to Rich Are Spending Less On Luxury Goods at NPR (less than 4 minutes). They don't talk specifically about perfume, but the implications seem obvious.