As inflation batters the retail industry, demand for beauty products is still seeing high demand from shoppers who are willing to pay for cosmetics and fragrances. Sales of mass-market cosmetics grew more than 5 percent in the quarter that ended June 30th. Coty, one of the world’s largest beauty companies in the world, grew 9 percent in the quarter ending September 30th. E.l.f. Beauty Inc. ($ELF@US), which sells low-cost but trendy makeup, reported a 33 percent gain last quarter, and sales for L’Oréal SA rose 9 percent. Analysts say beauty products are a luxury most people can afford even on a tight budget.
