Consumer discretionary inflation seems to be beginning to cool as, according to the July Consumer Price Index report, categories like apparel saw a 0.4% decrease month-over-month, while personal care only saw a 0.2% increase month-over-month.
The Honest Company CEO Carla Vernón (HNST) joins Wealth! to give insight into the strength of the consumer and dive into why certain brands and products do better than others
Vernón argues that the company’s latest quarterly performance puts "further emphasis on the fact that the consumer is willing to pay for products when that product is a quality that they believe in and delivers against a need that they have."
She follows that up with the trend she sees with consumers: "What we’re seeing is that our performance is strong across the board, across our retail set of partners. We’re having very strong consumption. In the quarter, our consumption was up 7%, and that’s very broad-based".
Vernón provides an example of where they are seeing that increase: "We’ve been seeing in the research is that there is a continuing increase in the interest in sensitive skin care products, that market of sensitive skin care is expected to nearly double to $80 billion by 2030. There’s also an increasing incidence of allergies in children. The amount of allergies reported in children has doubled since 1997, and that’s really where our products come in."
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