Often times during a recession, lipstick sales increase while most retail sales decrease. During an interview with ABC news, Chief Economist, Diane Swonk, from Meisirow Financial, spoke on how lipsticks sales increased during the Great Depression.
There are many different products that help us to feel better, so why lipstick? Why isn’t it the mascara factor, purse factor, or even the chocolate factor? (Personally, all for the chocolate factor!)
Best Buy in Bad Times
Although it is always better to save money when possible during an uncertain economic time. A lipstick that can be purchase for around $10, or less depending on the brand, its not an absurd amount to spend to help brighten the day.
Honestly, the lipstick factor can apply to most cosmetics. Makeup does have the power and ability to help us feel better even when things may not be going our way. Although any cosmetic will help boost our appearance, lipstick does have a stronger ability to change our look.
Often we get caught in a makeup rut where we choose to wear the same color of cosmetics every day. However, changing lipstick colors can change the whole appearance. During an economic crisis, buying a new dress or outfit for a special occasion can be next to impossible. But a $10 tube of lipstick is much more doable – and can even be enough to put more spring in the steps of the beholder.
Choosing the Right Lip Colour to Match the Economy
Lipstick in the right color (think a fun, shimmery, peach color) can help brighten the appearance. A peachy color can also give the illusion of a more youthful look as well. Looking younger for $10? Priceless!
With many lipstick and lip gloss products on the market today it is easy to find one that fits into anyone’s budget. Plus many companies, such as Victoria’s Secret, offers a sales deal for their Beauty Rush lip glosses. Go along with a friend and split the savings of a two for one deal.
Although it is best to save money, it is also ok for the occassional treat. An inexpensive cosmetic item may be just what is needed for an extra pick me up. What would you splurge on if given a little extra cash?
References:
- Recession Specials, ABC News, February 9, 2009.
- Lipstick Factor: What’s your small luxury?, OC Retail, May 1, 2008. February 11, 2009
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