17 Aug 2023 | Retail & CPG | blogs
Treat Yourself: Unlocking the Lipstick Effect
In times of economic uncertainty, consumer behavior often takes unexpected turns. One such phenomenon, known as the "Lipstick Effect," highlights how people tend to indulge in small luxury items, like cosmetics, even during financial downturns. This behavior has remained consistent over the years, impacting industries like beauty and personal care, and is projected to continue shaping consumer spending habits.
Jasper Colin's Retail Insights explore the 'Lipstick Effect' and how it is impacting consumers' spending behavior.