Several factors have influenced Hui Research's choice of this year's trend gift, which, according to the company, represents the time we live in. One of them is the beauty industry's significant growth in recent years – largely due to the fact that the economic downturn has made consumers save on especially more expensive consumption.
During the first half of this year, the beauty industry grew by as much as 17 percent, while impulse buying in other areas remained stagnant, according to Hui Research.
A bit of the money that people have been able to save has been possible to spend on smaller purchases that add a touch of luxury to life, and that's where beauty products have come in, says Hernell and continues:
There's even an economic term called "the lipstick effect" which means that the beauty industry often develops well even in economic downturn.
According to Hernell, the fashion and cosmetics industry is also moving away from typically male and female scents towards more gender-neutral fragrances with a focus on enhancing individual expression. The industry is also growing as a result of attracting new target groups.
She highlights that there are now many newcomers challenging the traditional perfume houses – both with a more gender-neutral range and with new business models and services.
1988: Food processor
1989: Video camera
1990: Wok pan
1991: CD player
1992: TV game
1993: A fragrance (perfume)
1994: Mobile phone
1995: CD disc
1996: Internet package
1997: Electronic pet
1998: Computer game
1999: Book
2000: DVD player
2001: Tool
2002: Cookbook
2003: Hat
2004: Flat-screen TV
2005: Poker set
2006: Audiobook
2007: GPS receiver
2008: An experience
2009: Spike mat
2010: Tablet
2011: Pre-packaged food box
2012: Headphones
2013: Juice centrifuge
2014: Fitness armband
2015: Robot vacuum cleaner
2016: VR glasses
2017: Electric bicycle
2018: Recycled garment
2019: Mobile phone case
2020: Storm kitchen
2021: Event ticket
2022: The home-knitted garment
2023: Board game
2024: Unisex fragrance
Source: HUI Research
