One thing we've learned in the past few years is that the biggest trends in the economy will be driven by the consumer. When consumer spending was focused on goods, labor markets throughout the supply chain became extremely tight. When the consumer shifted to services, inventories started to build up in the supply chain and businesses began to trim payrolls.
Yet there's good news for businesses that sell smaller luxuries, especially for personal care; sometimes these take the place of more expensive goods and services as consumers dial down their spending.
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