Part II: CEO/Founders confront recession’s impact, social media role, and a purpose-driven mindset on brand awareness


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CDU: Financial stressors following the COVID-19 pandemic are still a major issue for Gen Z consumers. How does your brand remain cost-effective and affordable to appeal to this consumer population? 

Olamide Olowe, Topicals (OO):​ Topicals creates targeted solutions that combine many of the most effective ingredients into one product to recuse the steps in a person’s routine making it more affordable and more efficient to get results.

Fiona Chan, Youthforia (FC):​ I think what’s truly unique about our products is that our formulas are actually really expensive—this is because I like to use the most high-quality, efficacious ingredients to level up the texture and feel of the finished product. But because I’m so involved in the product development, I’m able to work it out and still make them much more affordable than products from most luxury brands.

Stephanie Lee, selfmade (SL):​ We know that economic recessions, a growth slow down, can feel scary when things that were once abundant are now feeling more limited. While recessions naturally occur in our economy, but it doesn’t stop it from feeling stressful, uncertain and anxiety inducing for us. And its long-term impact can feel more difficult over time.

First, we had a conversation with a financial expert and advisor to understand implications of a slowdown and financial stressors. Next, we know that with recession-like conditions the consumer wants to go back to basics: consumer essentials like lotion and body wash are always needed, luxury goods typically remain resilient, despite costing more than other goods in their general category, and people would rather invest their money into quality goods, rather than spend less money on a product that isn’t very effective.



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