Amid rising costs of living and prices, there’s no shortage of financial experts pointing out warning signs that we’re heading toward a serious economic crisis, but a fascinating theory now links the possibility of a recession to women’s makeup-buying habits. women in a concept. known as ‘the lipstick effect’.
The idea comes from the theory that during any type of economic crisis, more and more women start purchasing makeup items, such as lipsticks, in an attempt to reward themselves or treat themselves without breaking the bank.
Now, with inflation on the rise, the lipstick effect appears to have taken hold once again: Sephora reported record growth in 2023 in a clear indication that the beauty industry could well be benefiting from companies’ increasingly tight budgets. people.
The theory has caused a flurry of debate on redditwhere beauty fans flocked to share their take on the concept, while talking about why they tend to turn to makeup or skincare when they feel like they need a gift that doesn’t cost them a lot of money.
The “lipstick effect” is the idea that during an economic crisis, women still want a relatively inexpensive way to treat themselves (file image)
On Reddit, beauty lovers flocked to Sephora’s page to debate whether the lipstick effect is currently happening; Some say beauty products are now too expensive.
‘I think that’s what’s happening right now. Every time a high-end lip product is released, it sells out in no time,” one Reddit user wrote, while another cited the growing popularity of lip products from brands like Summer Fridays and Hailey Bieber’s Rhode.
However, others thought the recent love for lipstick could be because people wore masks for so many years during the COVID-19 pandemic.
“I think there’s even more pressure on lip products right now because people weren’t actually using them when they had to wear a mask all the time,” one commenter mused.
Some thought inflation made it difficult to buy makeup.
‘Lipsticks now cost 50 Canadian dollars per tube, beauty has been greatly affected by inflation. “I’m back to cheap brands and dupes because items I’ve bought for a decade are sold out,” one commenter complained.
“Ha, I was going to say that I remember hearing about this effect over 10 years ago and it made a little more sense when Mac lipsticks were $14.50 instead of $25 now,” another person commented.
“I also feel that the lip products are very easy to use and therefore it is justified to buy them,” wrote one beauty lover, referencing the splurge on Laniege products and adding: “I feel so elegant when I use them use”. It’s like a little whim, but they are also practical. Just a little thing that makes you feel good and boosts your confidence.’
According ForbesThe lipstick effect was first proposed by Boston College economics and sociology professor Juliet Schor in her 1999 book. The Overspent American: Why We Want What We Don’t Need.
However, in the years since then, ‘small gift culture’ has become a massive trend on social media, as millennials and Gen Z treat themselves to something small and special to get them through the day, whether it be a dessert, an expensive latte or makeup. They’ve seen it all over TikTok.
And it could just be the culture of small gifts that’s making waves, because beauty shoppers aren’t just buying glitter.
According to Forbes, the lipstick effect was first proposed by economics and sociology professor Juliet Schor in 1998, in her book The Overspent American (file image).
Many Reddit users believe that the lipstick effect is currently occurring, with more and more people investing in expensive lip products.
California-based Brinn Garner, chief revenue officer (CRO) of Orveon – the collective behind beauty brands Laura Mercier, bareMinerals and BUXOM, told FEMAIL: “We have observed that the lipstick effect is no longer limited to lipstick or even makeup, but has extended to other affordable luxuries like fragrances and skin care.
“This shows that consumers still want little luxuries that make them look and feel good,” he confirmed.
Brinn has also seen a change in the way women shop for beauty products.
“Historically, women’s beauty product purchasing habits were influenced by their mothers, grandmothers and other women in their family, as well as their circle of friends,” the CRO explained.
It is confirmed that Generation Z and Generation Alpha are also indulging in the lipstick effect, despite not being part of the workforce.
“Now, online creators, influencers, and celebrities across generations, particularly within the Gen Z and Generation Alpha cohorts, are influencing purchasing habits along with product and brand exploration,” Brinn explained. .
He said that a survey by the research center of Piper Sandler shows that while overall spending for teens decreased by six percent, annual spending on beauty increased by eight percent, showing that Generation Z and Generation Alpha invested in their beauty routines.
Brinn called the fashion “the epitome of the lipstick effect, proving that while consumers may have less to spend, small luxuries like makeup and fragrances are still important to them.”
The CRO also attributed the popularity of bold lip colors to the lipstick effect, whether it’s Taylor Swift in her signature red shade or the burgundy color seen all over the runway during New York Fashion Week.
Lipstick is not only trendy, but it’s a relatively inexpensive way to treat yourself a little.