L’Oreal Says There Are Signs Some Shoppers Are Cutting Back
- L’Oreal seeing consumer behavior shifting in UK for skincare
- US shoppers are spacing out their visits to hair salons: CEO
Photographer: Marlene Awaad/Bloomberg
L’Oreal SA said there are signs that some British shoppers are trading down to cheaper skincare products in fresh evidence that soaring inflation is eroding household budgets.
The current change in behavior is focused on the UK, “where the inflation is the highest,” Chief Executive Officer Nicolas Hieronimus said in a Bloomberg TV interview Friday. It’s affecting the skincare category there but not haircare or fragrance, he said.