"The Lipstick Effect" Or do we call it "Luxury cheap thrills". (1/6)
#dematwithselect #Share #StockMarketindia
#dematwithselect #Share #StockMarketindia
Itβs an economic barometer that indicates: consumers still spend money on small luxury items during recession or when they personally have little cash. (2/6)
They do not have enough to spend on big luxury items; however, many still end up in purchases of small indulgence, such as premium lipstick. (3/6)
Cash short consumers want to treat themselves to something that lets them forget their financial problems. (4/6)
Fun Fact: The term Lipstick effect was coined by Leonard Lauder, he noticed that during the terrorist attacks of 9/11, his company sold more lipstick than usual. As a result, he theorized that lipstick is a contrary economic indicator. (5/6)
Did you experience the lipstick effect during Covid-19? (6/6)
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