****Check out this article from Yahoo Buzz that I found today. I think you'll find it quite interesting. This article was not written by me, it is written by Claudine Zap.****
The Lipstick Economy
by Claudine Zap
November 12, 2008 12:15:19 PM
219 Votes
In this economy that's in the red, there may be one bright spot that comes in shades of pink, brown, and taupe: the lipstick index.
It's a financial indicator that's as true as that colorfast shade that stays on you, and doesn't get on your man. In bad times, lipstick sales soar while other sales sour. The term "Leading Lipstick Indicator" was coined by Leonard Lauder, chairman of makeup company Estée Lauder, after he noticed the trend during tough economic times. And what is indicated right now? All lips are pointing upwards.
After all, women don't need to think twice about plunking down eight bucks for a drugstore lipstick while passing on $800 Jimmy Choos.
History can be our guide here. As a Harvard professor explains: "The decade of the Great Depression, cosmetic sales increased 25 percent." After the downturn following Sept. 11, lipstick sales doubled.
Looks like we're on track for a similar lip-color craze with this latest economic funk. The New York Times notes that in the last few months, lipstick sales have shot up 40%, and even put out a list of favorites ranging in price from the budget-conscious $1.99 to the more pricey but still affordable $55. Preferred colors for this new economy? Red is out. Neutrals are in.
Maybe you can't put lipstick on a pig. But you sure can stock up on the stuff during rough financial times.
November 12, 2008 12:15:19 PM
219 Votes
In this economy that's in the red, there may be one bright spot that comes in shades of pink, brown, and taupe: the lipstick index.
It's a financial indicator that's as true as that colorfast shade that stays on you, and doesn't get on your man. In bad times, lipstick sales soar while other sales sour. The term "Leading Lipstick Indicator" was coined by Leonard Lauder, chairman of makeup company Estée Lauder, after he noticed the trend during tough economic times. And what is indicated right now? All lips are pointing upwards.
After all, women don't need to think twice about plunking down eight bucks for a drugstore lipstick while passing on $800 Jimmy Choos.
History can be our guide here. As a Harvard professor explains: "The decade of the Great Depression, cosmetic sales increased 25 percent." After the downturn following Sept. 11, lipstick sales doubled.
Looks like we're on track for a similar lip-color craze with this latest economic funk. The New York Times notes that in the last few months, lipstick sales have shot up 40%, and even put out a list of favorites ranging in price from the budget-conscious $1.99 to the more pricey but still affordable $55. Preferred colors for this new economy? Red is out. Neutrals are in.
Maybe you can't put lipstick on a pig. But you sure can stock up on the stuff during rough financial times.
*I find this article true enough, well truth be told, I have bought at least 20 new lipsticks or some kind of lip product in just the past 2 months alone, so if other ladies did the same, it's no wonder the sales are up!*
Here is the link if you want to read her actual article on the web:
I wrote a similar post about hte lipstick indicator! It is a fascination social phenomenon.
ReplyDeletehttp://mymiamariu.blogspot.com
I love lipstick talk, when people talk about makeup,economy and the cosmetics industry, for some reason I am just fascinated with that because my husband (probably along with many other men too!) always says that makeup is "too expensive and it is a waste of money, women don't need it" blah blah, blah...hahaha. So I'm happy to read about how well makeup companies are doing, it's like everything else can go bankrupt, but not makeup co's! haha
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