The lavish luxury lifestyle took a bow at the start of the global recession back in 2008. But while we’ve tightened our belts since then, we still need to feel treated – just these days, our treats have got a (much) smaller price tag. Small indulgences have become a global trend. Bye bye bling bling!
What Treats Are People Buying?
Folks may not be prepared to spend hard-earned cash on big brand luxury goods, but they are willing to splurge on life’s little luxuries. Since the global economic meltdown, these treat industries have seen a surge in sales:
- Chocolate, cakes and confections – particularly cupcakes
- Homeware – especially kitchenware, to create restaurant-quality meals at home
- Cosmetics – most notably lip and nail colour
- Day spas – for non-surgical anti-ageing and beauty treatments.
Sweet Global Trend
Old-fashioned sweet shops – known as retro sweet shops – are making a big comeback. Some which have risen rapidly to fame since the recession began are: