The US economy is never going back to ‘normal’
New York (CNN Business) The U.S. economy has come a long way since last years devastating recession. But a return to "normal" may not be possible.
The "back-to-normal" Index, compiled by CNN Business and Moody Analytics, stood at 93 percent as of June 18, a new pandemic high.
The index made up of 37 national and seven state-level indicators, track consumer credit, unemployment claims, job announcements, domestic air travel and hotel occupancy.
The latest data suggest the US is inching closer to "normalcy", but the last mile will be tough. Although many states have abolished pandemic-era restrictions, life in the past has not fully recovered.
In fact, the pandemic may have changed some economic fundamentals, meaning it will never return to a "normal" state.
For example, many people still work from home and may continue to do so indefinitely. While some companies are asking employees to return to the office, others are adjusting to a new normal of more remote work and more diverse geographic locations for employees.
Tourism is another component of the return to the normal index, which could change forever. With vaccination rates rising across the United States and countries around the world reopening to tourists, there is excitement about going on vacation again, but business travel may not recover in the same way.
This does not mean that the US economy cannot regain its pre-pandemic size and strength. In fact, the speed of the rebound is unprecedented in modern times. But we are moving towards a new "normal".
For the index to normalize to 100 percent, some sectors will need to make more progress while others lag.
Investor Insights: The features and characteristics of the new economy have a significant impact on investors. Identify areas of growth and you can identify the companies most likely to benefit.
Since then, infection rates have improved and many operations have resumed. But the damage has been done.
China, China, China: There is no denying that to truly understand the global economy, investors need to pay attention to China.
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How is the straight lace front wigs market?
The global market for human hair wigs is expected to reach $5 billion by 2026, growing at a compound annual growth rate of 8.5% over the forecast period from 2021 to 2027.
"Baldness" has become a common problem around the world. According to data from cross-border e-commerce retail platforms, sales of human hair wigs and straight lace front wigs have been growing at a rapid rate of 300% all year round.
Over the past few years, the straight lace front wigs market has been driven by the increasing number of customers requesting extensions or wigs for aesthetic or functional purposes. African natives and people of African descent are the biggest consumers of straight lace front wigs and extensions. Wigs are popular in Africa, where they are as much a part of everyday life as clothes and shoes. Their hair is curly, a good head of hair is a symbol of beauty, many women even wear several wigs, including straight lace front wigs.
North America human hair wigs market contribution is expected to rise. Right now, transaction volume is growing at about 50 percent a year in the U.S. and Europe, and it going to grow 100 to 300 percent in Africa. In 2020, North America occupied the global wig and hair extensions market with more than 40% market share. The region population of African and Caucasian descent is the main source of sales of human hair wigs. The US market is heavily influenced by age groups.
By region, the straight lace front wigs market for human hair wigs is divided into Asia Pacific, North America, Latin America, Europe and the Middle East and Africa. North America has the largest share in terms of revenue and currently dominates the market segment. In the United States and Mexico, the presence of major suppliers and the growing demand for these wigs, which are fashion and style accessories, has helped fuel the demand.
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The price of straight lace front wigs
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The straight lace front wigs market trends and driving factors
The forecast of the global straight lace front wigs market shows the upgrading of the consumption structure, which provides the impetus for the economic shift to high-quality development, and opens up a broad market development space for human hair wigs products, beauty salons and other fashion hair and makeup industries. The size of the straight lace front wigs is expected to continue to grow, with the global wig market expected to reach $250 million by 2027.
Factors driving the straight lace front wigs market, such as:
The growth potential of middle-income consumers;
Urban community image reconstruction;
Wigs are increasingly used in the fashion and entertainment industries;
Hair loss rates are on the rise for both men and women;
The celebrity wig effect;
Easiness in styling and maintaining human hair wigs, better quality, durability, lifestyle changes, increasing per capita income and increased spending on fashion products are some of the factors driving the growth of the human hair wig and hair extensions market.
The cost of straight lace front wigs
In fact, because raw materials are hard to supply in the wig industry, the cost of straight lace front wigs is a wild card. The price of the straight lace front wigs varies from a few hundred to a thousand, and the profit is considerable. Real human hair is the main raw material, but the purchase requirements are more strict, also cant hot dye. Although chemical fiber hair is also one of the raw materials, the service life is short, also easy distortion, the market share is far lower than the wig of real person hair. Due to the scarcity of raw materials, the development of the whole wig industry will be more or less restricted, and the cost of straight lace front wigs will also fluctuate accordingly.
The supplier of straight lace front wigs
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15+ years of experience
Over $50+ million in sales
14+ years of experience
Over $50+ million in sales
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