This you could argue is a highly discretionary industry and...

This you could argue is a highly discretionary industry and therefore stock.
Still, as an insider, I can vouch that the current spend coming into the typical blue chip shopping centre store with laser/cosmetics is truly eye watering, and would surprise most people if they knew. Many regular clients will not cut back on this spend as to them it is not discretionary, and this cohort are often very wealthy. Like with all honeypots, strong competition is emerging and organizing, so all in all I am ambivalent with this one at the moment.