"Lipstick Effect" and the Economy

When an economy enters troubled waters, this does not spell bad news for all categories. “Affordable luxury”, for example, tends to perform well in a recessionary environment. This trend became known as the “lipstick effect”, a term coined by Leonard Lauder, Chairman of Estée Lauder, at the beginning of 2001 when he observed that lipstick sales tend to be inversely correlated to economic health. While lipstick sales did not withstand the recent recession, there is some evidence that the “affordable luxury” effect is still present, but manifesting itself in
different categories over time. Nail polish, for instance, could be considered the new “lipstick”, but the “lipstick of choice” varies with time and geography.

source: https://blog.euromonitor.com/redefining-the-lipstick-effect-examples-of-recession-proof-categories/

So, I was not far off when I felt it necessary to buy extra hair color since the UK has had the "lipstick effect" for hair color.

People cannot afford luxuries like vacations and new cars, so they turn to something "affordable" to spend their money and feel buoyed instead of feeling the lack of luxury. These items they turn to are not cheap but less than a vacation.

Walmart reports  hair color buying is in panic stage. No, I did not cause this or contribute. If salons are closed, women will turn to boxes from the drugstore or Walmart.

Also, backed by research is the notion that women turned to lipstick as a way to be more "acceptable." If jobs are disappearing, maybe a woman feels wearing lipstick will insure her economic health. I have a book devoted to makeup in a woman's world. If she needs security maybe her access to a man to support her will be enhanced by the wearing of lipstick.

Now, nail polish has replaced lipstick as the affordable luxury in the US.

Once, long ago, when I was very poor, discouraged and had only $5 to my name, I experienced this effect first hand in the midst of looking for a job. It was Friday night. I went to the store and bought a lipstick and a magazine. By Monday I was back on track in my life.  I was not looking for a mate, but I did need a job. The lipstick was the only lipstick I had as the only other tube I owned was gone down beyond the top of the tube.

This is a very interesting article, worth the time to read, based on statistics with charts to break up the reading of texts.