Feb 17 2017
The perception of the public relations sector is often glamorous. Those of us in the industry know the truth: well, yea, sometimes it is! And what’s more glamorous than working in beauty marketing? The free product alone…
Putting the fun beauty tools aside for a minute, this is a market that only continues to grow, and something our team here at PadillaCRT immerses ourselves in on a daily basis.
Just last year, Global Cosmetic Industry predicted that the U.S. beauty sector would be worth $90 billion by 2020. Even more impressive: that number would represent a nearly 45% gain in just 10 years.
Though, with all this growth, comes major transformations within the category. Why should beauty brands pay attention? Consumers have become accustomed to (and in some cases expect) the rapid pace with which beauty evolves. If brands can’t get on board quickly, they may miss the boat completely.
With that in mind, I asked the team to make some observations about changes or challenges in the beauty industry. Below you’ll find some occurrences we’re observing in 2017, from both a brand and third-party media perspective.
Feb 14 2017
College debt has long been considered a crisis for students, many of whom feel like they have widening holes in their pockets. Now, some Wall Street analysts predict that the $1.4 trillion student-loan market is forming a bubble that’s about to burst, and skeptics (those with short positions) will profit all the way down.
FlowPoint Capital’s Charles Trafton calls it “the college bubble” in the New York Times. And, if he’s right, it’ll be The Big Short all over again.
Why should schools care? Because financial stress on students can lead to poor academic performance or, worse, increased dropout rates that impact rankings and brand. Unpaid bills on defaulted loans are another risk. Plus, admissions could be impacted if schools fail to communicate strong financial support and education for their students.
At the end of the day, a “college bubble” burst is bad news for everyone except the bears on Wall Street.
A potential crash will have unpredictable outcomes for schools. Here are some questions college marketers should be asking: