On this episode of the Beauty Broadcast, we are exploring how the changing perception of ageing is pushing cosmetic companies such as Shiseido and Native Extracts to rethink the ‘anti-ageing’ skin care category entirely.
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While some respondents thought inflation pressures would cause the central bank to raise interest rates (31%), a greater proportion thought the central bank would not switch to a restrictive policy (41%).
Globally, 45% of respondents thought that equities in their respective markets had recovered too quickly from the market slump in March 2020 and were due for a market correction within the next one to three years.
Another 58% of respondents agreed the role of government would broaden as a result of the crisis, and the share of government spending in gross domestic product (GDP) would structurally and materially rise, as will taxes, though in Australia that proportion is much lower at 43%.
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The cosmetics industry has the resources and potential to prevent the loss of First Nations culture and knowledge that will ultimately benefit the environment, says one supplier that works closely with these communities.
Native Extracts is an Australian ingredient supplier that claims to have the largest library of native botanical extracts.
In the past few years, the company has observed a huge demand for Australian-made cosmetic products, also known as A-beauty.
The firm believes that the demand for A-beauty will continue on an upward trajectory on the back of clean beauty and increasing interest in native extracts.
Lisa Carroll, director of Native Extracts, is hopeful that this trend will emphasise the importance of First Nations communities, who are the keepers of knowledge on native plant species.