Economic 100

Type
Essay
Pages
6
Word Count
601
School
strayer
Course
Economic 100
Assignment 2: Final report
Krystal Boone
Strayer University
Economics100
Dr. Slinsky
June 1, 2019
Introduction
The beauty industry is one of the sectors of the economy that is involved in offering of services.
The industry is marked by different trends. For instance, the consumers in the industry, especially
women, tend to be on a journey of exploration. The consumers enjoy new products and are
always in search for new brands. There is a generational shift in the industry where younger
generations of consumers are involved in rejecting large brands. Alternatively, young and
independent brands are considered to support a surge in creativity. There is the notion that there
is a new brand emerging in the industry, which is an indication that entrepreneurship is heated in
the beauty industry. The industry is on expansion since it is involved in establishments that
primarily deal with perfumes, cosmetics, personal grooming products as well as toiletries
.
Key Indicator to Monitor (Inflation) and Importance and Impact to the Airline Industry
Macroeconomic factors are crucial in influencing businesses. In the beauty industry, the
macroeconomic factor that is of concern is inflation. Inflation tends to affect the price of
commodities (Hall, 2009). Inflation is important because it affects the prices of beauty products.
In the beauty industry, there are different products that affect the price that one is charged for a
service. For instance, in case a certain beauty product is costly, it implies that the price charged
in providing a beauty service involving the expensive product will be costly as well. Thus, when
there is high inflation, the prices associated with beauty services are likely to increase.