Ink pens, vinyl and celebrity beauty brands
According to Bloomberg News, over 50 celebrities and influencers have launched their beauty brands in the last three years. However, the golden era of celebrity beauty brands is ending. Consumers are more likely to choose skincare cosmetics over make-up kits in a post-pandemic world. Only one new brand has emerged this year, and shoppers increasingly prioritise quality over celebrity names’ power. Companies also report poorer sales due to the financial crisis and the inappropriate behaviour of influencers promoting products.
London’s luxury shop owners are concerned that the city is losing its appeal as a shopping destination, with foreign customers moving to Paris and Milan. This is because the tax reliefs there mean lower shopping costs for them. In the UK, financial facilities for tourists ended with Brexit in 2020.
The realities of the market are bravely faced by Fahrney’s Pens in Washington, founded almost 100 years ago and located near the White House. For example, the shop offers ink pens made of sequoia, ebony, epoxy and acrylic resin. The average age of Fahrney’s Pens customers is 60, and it is decreasing – the generation that has been typing almost forever has also fallen in love with fountain pens. Vinyl record shops are also doing well. Last year, sales of this audio medium were higher than sales of CDs for the first time in 35 years. In 2022, just over 41 million vinyl records were sold for $1.2 billion and 33 million CDs for less than half a million dollars.
