'Tis the season to be tipping, Fa la la la, la la la la! But how much should a recessionista tip and whom should she tip in these tough economic times?
How many of you will set the alarm on Black Friday morning for 3:00 AM or camp out in front of an electronic store waiting until the doors open just to snag that one computer for which 500 other people are standing in line? We've been there, done that, and didn't get the computer.
Black Friday, the day after Thanksgiving, historically is the biggest shopping day of the year.
Eons ago, when accounting was kept by hand, being in the black meant you were profitable. If you were unprofitable, your accounting books would show red; hence, in the red.
Black Friday is the day where many companies sales shifted from unprofitable, being in the red, to profitable, being in the black.
But will Black Friday become Red Friday?
Not to be doomsayers, but for many of the smaller boutiques and weaker larger retail players, this could be there last ditch effort to stay in business, waiting to get in those holiday dollars and be in the black.
Although we are not going to make the early morning trek to the stores on Black Friday, we are making an effort to support some of our local retailers, so that they may see Black Friday next year.
Stay tuned for Cyber Monday.
Happy Thanksgiving to all of our readers. May you enjoy the warmth of family, friends, and mashed potatoes.
In one of our fave magazines, ShopSmart, 7 online shopping spots were highlighted as online sites to save you oodles of dollars. Of course, being recessionistas, we had to give them a test-drive!
With the current economic turmoil, many women are getting their prescriptions filled online. Having recently dropped off a new prescription for Retin-A at the drive-through at our local pharmacy and being told the price was $240, we have been driving all over the Internet searching for a budget-friendly price for Retin-A, which you can buy in Mexico for $10! But are Internet prescriptions safe?
Amid worsening economic conditions, consumers are expected to limit decking their halls this holiday season.
According to recent research performed by The Nielsen Company, only five percent plan to spend more on holiday gifts.
GWBBB will try to put the "fa la la la la la la la la" back in your holiday by offering holiday gift suggestions and deals du jour.
Will the economy affect your holiday spending?
According to USA Today, 53 percent of plastic surgeons say business has slowed, gym memberships fell last year for the first time in more than a decade, and the Jenny Craig diet program is down by 30 to 40 percent since the first of the year.
How does the recession affect fashionistas and beauty addicts? This beauty addict used to dart here and there in my car, never giving a second thought to how much money I was spending on gas. But darting from here and there last weekend, I thought, "What does it cost for this pleasure trip?"
In case you haven't noticed, we're spending twice as much to fill up our gas tank as we were 2- to 2-1/2 years ago. I know you've noticed. I have, too, And it really hit home when I calculated that the price of admission for my roundtrip frivolous, pleasure trip for said darting activity, which was about 20 miles roundtrip, was $5 in gas. I know that doesn't sound like much, but I'm thinking about the poor souls that drive back and forth to work and the fill-'er-up is up to $70.
The U.S. consumer did not start altering their behavior until gas hit about $3.50 per gallon. In financial-speak, that is called demand destruction. I didn't take notice until gas crept to $4 a gallon. In right-brain artistic speak, that is called cash-in-hand obstruction.
How does this affect beauty addicts and fashionistas?
Beauty addicts and fashionistas have already changed their shopping habits and are looking for creative ways to cut costs because of the soaring prices for fuel. The daily trade-offs include buying drugstore beauty products instead of department store beauty products, switching from Armani to Target's Mossimo. I know. It hurts.
What's your recession strategy? Are you making trade-offs? Will you shop more online?
We have not written a post recently about beautynomics, primarily because who wants to write about all that doom and gloom, but according to financial-istas (hot off the presses), it looks like Allergan --makers of Lumilash, Botox, Juvederm, Botox, and breast implants -- could have a good return on your investment. So you may want to add this to your stock portfolio investments, as well as your beauty portfolio.
According to Bernstein Research,
- The most important development presented yesterday was the unveiling of the Lumilash program. Lumilash makes eyelashes longer, darker and fuller and has minimal side-effects (it did not, as we feared, cause a change in eye color). We expect strong uptake and peak sales approaching $500M. (Girl-Woman will be one of the first bloggers to be testing and reviewing Lumilash.)
- The other key development was the announcement AGN is pushing forward the Juvederm with Lidocaine program where it now expects approval by YE09. This is a next generation dermal filler that could help AGN break the tie with MRX's Restylane – a largely equivalent product. Between Lumilash, Juvederm w/ Lidocaine and the Clinique products, Allergan is building a lead over other aesthetic companies, notably MRX -- Medicis Pharmaceutical Corp. It is difficult to see aesthetic physicians being unhappy with AGN given the assortment of new products. (See Girl-Woman's comparison of Restylane and Juvederm). Additionally, according to my derm's office, there is a new kid on the block -- Radiesse. Radiesse is one of the longest-lasting dermal fillers available. Once it is injected, it actually stimulates the production of collagen. Girl-Woman will test Radiesse in the future and compare it to Juvederm and Restylane.
- There is also solid mid term progress which may come to fruition around 2010. The FDA may consider reducing the number of cycles required in the Botox-OAB clinical trials. There were also no delays in follow on Lap-Band programs in adolescence and lower BMI patients.
Although Botox's reputation was in question when Italian scientists discovered that Botox goes to the brain and when the Food and Drug Administration linked the product to side effects that caused deaths in some children being treated for cerebral palsy, many have postulated that the large dose used to decrease the spasticity in the children was the cause for the deaths.
On the flip side, doctors are advising “There is no need for alarm because even though Botox is transported along the nerve fiber as far as the brainstem, it is biologically metabolized and broken down along the way and simply has no other place it can act other than where it got absorbed, at the nerve terminal."
The breast implant market is also dominated by Allergan, and some analysts believe that although the fears of a recession will slow the growth of the implant market, sales will continue to blossom.
Although this could be a good stock for your portfolio -- investment or beauty --if financial sacrifices have to be made, do you think luxury consumers will forgo Jimmy Choo shoes so that they can continue their $500 to a $1,000 Botox and Juvederm habit? How about the $7,000 price tag associated with breast implants?
Source: Bernstein Research, Alan Gal