Canadian Cosmetic Cluster Team
Uniting Canadian Cosmetics and Bringing it to the World
 Typically, this is the time of year when everyone trots out the old “new year, new me” mantra, armed with a mix of ambitious and borderline impossible resolutions. But this year feels... different. People seem tired. The lingering effects of COVID, escalating political instability—the list of things that go wrong ever growing have really taken a toll. So far in 2025 it is more of a new year let’s see how everything goes – slowly. Easy step by easy step. This year, I sense we’re on the brink of a significant commercial slowdown. Take EMSSM or Economically Marginalized Small-to-Medium-sized Businesses (the new word for SMEs because why not confuse people with new acronyms). It feels like every layer of society is under strain. In Canada, for instance, the recent postal strike during the holiday season didn’t help, and inflation continues to be a part of our lives. Let’s be honest, when prices rise faster than paychecks, what’s the point? Isn’t it better to lower prices? And that’s just the tip of the iceberg. Political instability isn’t going anywhere, and yet we all keep plodding along. I’ve always thought small businesses are some of the toughest endeavors out there—many of you can probably relate. They’re taxed the most, work the hardest, receive the least support, and yet still manage to produce so much. Honestly, it feels like small business is capitalism’s ultimate paradox: squeeze every ounce of potential out of these businesses without putting much (or anything) back in. That’s probably why 90% of businesses fail—it’s not just tough; the system is practically designed for failure. When you’re constantly pushed to your limits with minimal support, how can success be sustainable? Still, people press on. I remember Bernard Arnault once said, "I believe that there will be fewer and fewer brand names capable of retaining a worldwide presence and that those of our group will be among them as we will provide them with the means for growth."[1] Did he predict the future of the industry will small businesses be extinct, swallowed up by big corporations because it’s simply too expensive to start your own business and to grow it? And while we’re getting close to that reality, I don’t believe we’ll ever completely reach it. There will always be a place for small businesses. Not all businesses want to be global brands and there is nothing wrong with that. Unfortunately it's harder to maintain a business on a small scale which is generally why companies look for growth and new markets to expand too. So what does the next year look like? First of all, we can't ignore the growing trend of “sustainability and transparency,” which is fantastic—if you can afford it. The reality is, many people can’t. This applies to everything: products, ingredients, and retail pricing. I see biotech companies investing millions into sustainable goods, only to find they don’t sell. Biodegradable and sustainable ingredients are being sold as the future but the truth is unless that future is in line with budgets SME’s won’t be buying, no matter how compelling the storyline. Here’s a tough question: Is it worth it? Is it worth spending a fortune on expensive ingredients or branding if no one’s buying? Especially since many of these practices are actually better for the environment? I think we need to work together to make these types of ingredients and sustainable packaging affordable. We need more startups to create new economic systems and sales channels to help companies streamline their marketing, and logistics of products. One common mistake I see founders make is letting their egos drive spending decisions. They’ll invest in flashy interviews or media coverage showcasing how “great” they are instead of focusing on impactful product marketing or building a solid community. The truth is, if you’re buying all your hype and no one’s buying your product, it doesn’t matter how amazing you think your story is—especially if people can’t afford what you’re selling. Businesses need to prioritize good models, smart purchasing decisions, and genuine connections with their audience. Let’s not forget that consumers are stretched to their limits. Data shows people are not spending more because they’re buying more; they’re spending more and they’re getting less for their money. Businesses need to recognize this. Maybe this economic situation will humble the industry a bit—force it to focus on exceptional products instead of flooding the market with dozens of mediocre ones. And perhaps it’s time for collaboration, too. Instead of trying to do everything alone, imagine pooling resources. Maybe three smaller companies can come together to create something truly remarkable. It’s not just about surviving; it’s about thriving—and doing so in a way that makes sense for everyone. The last thing I want to touch on is mental health—something we’ll dive deeper into later. But let me be upfront: I’m not here to tell you to take deep breaths, sip tea, or soak in a bubble bath. Let’s face it, those things don’t really cut it when you’re facing a real crisis. My actual advice? See a doctor. Get your health in order. Prioritize your real wellness—not the kind that comes from slapping a serum on your face and hoping it solves your stress. Don’t get me wrong, skincare has its place, but let’s be honest: it’s more about feeding the ego than addressing actual relaxation or health. Instead, focus on the basics—sleep well, eat well, and seek therapy if you need it. Therapy is an investment in yourself, and if you’re struggling, it’s far more valuable than a cream or a trendy wellness hack. Therapy is also extremely expensive and often out of reach. Here are some resources below that can help; North America United States
Canada
United Kingdom
Europe General Resources Across Europe
Specific Countries
The world is stressful; it always has been, and it probably always will be. The key isn’t avoiding stress—it’s learning how to cope and desensitize yourself to the chaos. Accept what you can’t change, adapt, and find ways to move forward. Building strong communities, leaning on others, and working together are essential parts of this process. One of the best ways to take care of yourself in the year ahead is to explore things that genuinely nourish your soul. Read more, get lost in the arts, spend time in nature—whatever helps you recharge. Ironically, given the industry I’m part of, I don’t believe cosmetics are the answer to wellness. A five-step skincare routine or taking off your makeup might feel good, but let’s not confuse that with actual self-care. If it makes you feel like a new person that's wonderful but do not feel disappointed if it does not. Media often sells us the idea that skincare equals wellness because it’s accessible and easy to market. But true wellness goes deeper. It’s about stepping outside the realm of surface-level solutions and investing in things that truly matter. So in 2025 it’s not about the creams—it’s about finding what genuinely sustains you. Source
[1]https://podcasts.apple.com/us/podcast/355-rare-bernard-arnault-interview/id1141877104?i=1000661179507
1 Comment
Lindsay
5/1/2025 10:09:03 am
All of this is so true! Thank you for sharing. Leave a Reply. |
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