‘The Lipstick Effect’: Recession-hit women boost beauty sales
Whilst most women are tightening the household purse-strings, sales of cosmetics, jeans and figure-hugging little black dresses are still soaring as recession-hit ladies aim to feel good, land a job and attract a potential partner.
A new study has confirmed that the so-called ‘lipstick effect’ is still going strong, by comparing the type of items both men and women will spend money on during a recession. In the study men were unlikely to want to buy any products after speaking about money issues, whilst women would turn down anything that didn’t help them look their best.
Sarah Hill from Texas Christian University, who conducted the study said:
"Although both men and women downsize consumer spending in response to recession cues, there is an exception to this, and this is beauty products.
"Women have an increased desire to purchase these products in response to recession cues. Even though they are closing their purse string for other things, they are wanting to splurge on things that can make them attractive," she added.
The research, along with real world spending, confirms that whilst overall spending goes down, sales of jeans and beauty products – especially products such as lipstick and nail varnish – do go up when times are tough.
Have you been caught up in the Lipstick Effect? And if you do get the chance to treat yourself – what’s your ultimate bargain buy to help lift your spirits?