Market Trend Question with Niche Answers?

Just for context, I am a first-year university student applying to one of the hyper-competitive investment clubs at my school.

When we are asked to talk about a market/industry trend in the interview, how niche can the topic we choose to talk about be? For example, would talking about the rise in lipstick usage across North America and its impact on the makeup industry be an adequate answer? Or should I stick to larger market trends (TMT/financials trends, interest rates, inflation, etc.)? Just a little unsure as to how specific we can get with this question. Thanks in advance!