Consumers are not holding back on discretionary items like skincare and cosmetics even when inflation may be putting a load on their household budgets. NYKAA, a premium personal care retailer has not been affected by the slowdown in consumption and they reason it by saying that their customers are more evolved as they pick lifestyle over other expenses. The e-commerce company has partnered with over 3000 brands and 22 global brands. Due to high inflation, consumer products companies are struggling to find demand due to inflation but a huge portion of NYKAA’s sales is from smaller towns in II tier and III tier cities. Due to worldwide access to social media, even small towns are educated on topics of skincare and beauty, so the consumer behaviour in small towns is now similar to the big cities. Derma Cosmetics is one of the popular skincare brands sold on NYKAA and that indicates the changing customer behaviour in beauty and wellness.
