28 Jun 2024 --- Bain & Company and the Italian luxury goods manufacturers’ industry association, Altagamma, tell Personal Care Insights the first quarter of the year saw a slowdown in the luxury market across most regions amid macroeconomic pressures that resulted in high inflation. However, they say the beauty sector continues to see “strong momentum” due to the “small-luxuries effect,” a term used to describe aspirational consumers shifting their spending toward more accessible luxury categories as a means of self-treatment.
