11.27.21
The latest Covid variant, Omicron, had investors selling, but holiday shoppers buying on Black Friday. The Dow Jones Industrial Average plunged more than 2% yesterday on the latest Covid news. But analysts said Omicron will have little impact on sales during the weeks leading up to Christmas. In fact, analysts predict Black Friday sales in the range of $8.8 to $9.6 billion. That compares favorably to the $9.03 billion spent in 2020 and $7.43 billion spent in 2019. Some analysts are predicting a rebound in beauty sales for Holiday 2021. The best-performing categories are expected to be fragrance, color cosmetics and skin care.
The World Health Organization (WHO) convened an emergency meeting on Friday to discuss the viral strain, which had previously been known as B.1.1.529, declaring it a “variant of concern” while giving it the new name of “Omicron." The first cases of Omicron were identified in the African nation of Botswana on November 11, with additional infections detected in South Africa just days later. Since then, Omicron is believed to now make up 90% of new infections in South Africa’s Gauteng region, according to local epidemiologists.
Hong Kong registered its first Omicron case on Thursday, while Israel reported an infection from a traveler returning from Malawi on Friday and is now monitoring two other suspected patients, suggesting the strain is quickly spreading far beyond southern Africa where it was first spotted. Belgium reported it on Friday.
Regardless of new variants, the pandemic has altered how people shop and purchase beauty products. Click here to read what it means for cosmetics companies.
The World Health Organization (WHO) convened an emergency meeting on Friday to discuss the viral strain, which had previously been known as B.1.1.529, declaring it a “variant of concern” while giving it the new name of “Omicron." The first cases of Omicron were identified in the African nation of Botswana on November 11, with additional infections detected in South Africa just days later. Since then, Omicron is believed to now make up 90% of new infections in South Africa’s Gauteng region, according to local epidemiologists.
Hong Kong registered its first Omicron case on Thursday, while Israel reported an infection from a traveler returning from Malawi on Friday and is now monitoring two other suspected patients, suggesting the strain is quickly spreading far beyond southern Africa where it was first spotted. Belgium reported it on Friday.
Regardless of new variants, the pandemic has altered how people shop and purchase beauty products. Click here to read what it means for cosmetics companies.