Consumers Cool On Holiday Spending With Doubts ‘Deep Discounts’ Are Coming
One likely reason for tighter spending plans is consumers aren’t expecting “deep discounts” offered in US earlier in 19 pandemic, shows Simon-Kucher survey. Four times as many than in 2021 expect 10% or less discounts.
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Ulta has increased its fourth quarter and fiscal 2022 full-year outlook on strong third-quarter comparable store sales growth of 14.5%. Mass beauty is outperforming prestige, but CEO David Kimbell said “it’s hard to know for certain if we are starting to see consumers trade down.”
FCC To ‘Clarify’ Section 230; FDA On Scented Sanitizers; A Mixed Holiday Shopping Forecast; News In Brief
The Federal Communications Commission intends to “clarify” Section 230 of the Communications Decency Act, suggesting “an overly broad interpretation that in some cases shields social media companies from consumer protection laws” in unintended ways. More news in brief.
Under CEO Erik Fyrwald, IFF is committed to improving commercial execution across its four businesses after five years of overall underperformance.