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If you thought the Presidential campaign’s “lipstick on a pig” moment would be the only instance of cosmetics inserting themselves into hard news during 2008, you thought wrong. The late financial crisis has revived the Leading Lipstick Indicator as an economic yardstick:
An indicator based on the theory that a consumer turns to less expensive indulgences, such as lipstick, when she (or he) feels less than confident about the future. Therefore, lipstick sales tend to increase during times of economic uncertainty or a recession.
It’s sound reasoning, and it holds true:
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.
I have yet to buy a tube of lipstick. So that means I’m doing okay, right? I can even afford to buy that vintage Minnesota North Stars green baseball cap I picked up the other day…
Category: Business, Creative, Politics
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Spam’s fortunes rise and fall…
The amount of spam email decreased by more than 66% last week after a single company was knocked offline by their ISP after the Washington Post dug into their activities. But sales of Spam, the midwestern delicacy, are up, up, up because of the crapp…..
Trackback by kottke.org — 11/17/2008 @ 10:42:02 AM
If it puts an end to emails from people offering to share with me milliions they’ve come across accidentally, which belongs to a dead African Prince then I’m happy!
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Comment by Linda — 11/17/2008 @ 11:44:34 AM
Lipstick and Playboy Economics…
If history is any indication, you may want to stock up on your favorite lipstick before every tube is sold out, and go ahead, splurge on that cupcake — curves are coming back in vogue. Since our recent economic crisis, people are once again talking …..
Trackback by The Frisky — 11/18/2008 @ 02:44:56 PM
Get a grip or I’m going to throw a googly…
… It’s said that in times of economic uncertainty, we can count on two certainties. People seek greater solace in their sport and the sales of lipstick increases substantially.
Given the Aussies in my life seem to already play, watch and talk sport 24/7, it’s not going to get any better is it? I guess this just means that during the long days of winter sports, followed by the even longer days of summer sports, I may just have to disappear every now and then to buy myself a new shade of lipstick. …
Trackback by Lilly's Life — 01/11/2009 @ 11:07:14 AM