Hello Friend,
It's Susie from 40andholding! I hope your week has been fabulous! Friend, Have you heard of the Lipstick Effect? The lipstick effectis the theory that when facing an economic crisis, consumers will be more willing to buy less costly luxury goods.
For example, instead of buying expensive fur coats, shoes or clothes, people will buy luxury cosmetics, such as lipstick to brighten their mood. The underlying assumption is that consumers will buy luxury goods even if there is a crisis... just not higher ticket items.
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