I have been wanting to post for the last two weeks and just have not had the time. I incorrectly thought the week before Christmas would be “quiet” time…quite the opposite. Sweet Squared’s demands were much more than I anticipated and Linda and I have been working overtime on our new product launch (more on that in a few minutes). So, since we are almost done with the first week of 2012 (can it go any faster than 2011????), I wanted to share a few random thoughts on the world and beauty industry.
First up is the price of oil, which has consistently been above $100 per barrel for two weeks now. I can remember the first time it went over this landmark price…the media was predicting a deep recession and dire consequences for the world economy (I believe this was three years ago in 2008). Oil peaked at $147, the “great recession” hit and within six months or so, oil fell to around $40! Now it seems $100 oil doesn’t even get noticed or mentioned in the media. On the other hand, natural gas has fallen to the $3 dollar level. As recently as three years ago, it was at $12. It will be interesting to see what happens in these markets and what the effect is on our economy. The developed world is driven by the supply of energy…it’s pricing and supply are crucial to “life as normal” (whatever that is anymore!).
One of the top predictions I hear from friends and associates in the nail industry is that gel polish will go retail. It is not likely, it is a certainty. Nearly all technological breakthroughs in our industry end up going retail. Think light cure gels, fibre glass wraps, “dip it” products, tips (remember those stick on products including “Lee Nails”?). Yet the professional nail business has survived and thrived. We need to remember why clients prefer a professional application to the “do it at home” opportunity that will always be an option. Firstly, doing a long-lasting and good-looking application is hard work…I’m not telling anyone who does nail services for a living anything they don’t know. The amount of time, education and expertise it takes to gain proficiency simply is not worth the trade-off for most busy professionals. Secondly, receiving a professional nail application acts as a bit of a “sanctuary” for the customer…the opportunity to escape the daily rat race cannot be underestimated. The key for our industry’s continued success is for all of us to continuously improve…in our products, our skills and our ability to provide that sanctuary to our customers. I am quite optimistic based on what I see.
As I mentioned above, Famous Names will be introducing it’s new product at the end of this month at the Long Beach Show (January 28-30th). Our good friends at Nail Talk Radio have graciously agreed to do a special show on Saturday evening so Linda and I can unveil our new “baby”, which has been one year in the making. The show will air at 7pm Pacific time and you can tune in at http://www.nailtalkradio.com. If you are at the show, PLEASE come by and say hi…we will be at booth #1265.
Finally, I am due to give myself a report card on my OPI acquisition predictions and make a few more 2012 predictions…hopefully before the end of the month!
Until then, Happy New Year’s and my best for a fun, healthy and profitable 2012!