THE WHAT? Croda, a significant supplier for cosmetics brands including Estee Lauder, has decreased its annual profit predictions due to declining demand, especially in its North American beauty care business.
THE DETAILS Following the announcement, Croda’s shares dropped by 11.5%, reaching their lowest since April 2020 at 4,242 pence. The company now forecasts a 2023 pre-tax profit between 300 million and 320 million pounds, lower than the previously expected 370 million. The third-quarter sales in its beauty care division, particularly in North America, failed to meet expectations.
THE WHY? Globally, beauty product retailers have experienced reduced demand this year, with challenges in the duty-free, travel destinations, and, notably, the Chinese market. Inflation has led consumers to reduce spending on non-essential items. In response, Croda has initiated cost-cutting measures, such as plant shutdowns.
Buy aesthetic products refers to the act of purchasing items that are specifically designed for enhancing or maintaining beauty, often related to skincare, cosmetics, or procedures in the field of aesthetics. These products can include a wide range of items intended to improve the appearance and health of the skin, hair, and body. Here are some examples of aesthetic products that individuals might purchase:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments targeting specific skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows designed to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Dermatological Treatments: Prescription or over-the-counter treatments for medical conditions like acne, eczema, psoriasis, or rosacea.
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Aesthetic Devices: Equipment used for professional treatments including laser devices, microneedling pens, radiofrequency devices, and IPL (Intense Pulsed Light) machines.
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Injectable Aesthetics: Products such as dermal fillers and botulinum toxin (Botox) used to enhance facial contours, reduce wrinkles, and achieve smoother skin.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
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Home Use Beauty Devices: Devices like facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
