Alright, so it’s not exactly unheard of for the financial sector to judge the economy by the purchases of luxe fashion items (shoes sales, heel heights, and couture labels and hand bags), but beauty items too? Yep.
The proof is in a little paper called “Boosting Beauty in an Economic Decline: Mating, Spending, and the Lipstick Effect,” which includes five studies that proved the researchers’ hypothesis that the surge in beauty buys in a poor economy is due less to pricing and due more to the mating game. It seems there is more to the fact that beauty buys go up when the stock market goes down than the previous reasoning of beauty mags (it’s cheaper to buy a Chanel lipstick than a Chanel jacket.) Calling the phenom “The Lipstick Effect,” the study finds that the surge in beauty spending is simply an effort of ladies to look more outwardly appealing to financially stable mates (which are rarer to find in an unstable economy.) Hmph.
You can read the entire paper here.