Have you ever heard of the lipstick effect? Well, it wasn’t some top economist from a prestigious university or even a top Wall Street executive; it was Huxley, Aldous Huxley. He is 1930, noticed an economic phenomenon that leads to the demand for some cosmetic products like lipstick not only growing when things are going well economically speaking (i.e., if there is economic growth) but also growing – and even more so – when things are going bad economically speaking (i.e., in case of recession or depression).
Its name does not even come from an economist with thick glasses and patches on the elbows of his corduroy jacket. Instead, Leonard Lauder, CEO of the Estee Lauder cosmetics company, watched his company’s sales of lipstick bars soar during bad times for the general economy.
But what is so special about this that deserves an article? Let’s start by saying that only one piece has been written about this phenomenon, but thousands and even more technical articles.
The curious thing about this phenomenon is that according to the laws of economics when things are going well in the world, countries have money and people have money, so the consumption of products and services increases, but when things are going badly, people try not to spend more than on indispensable items and sales of luxury goods decrease. So far, it all sounds quite logical.
Women spend more money on makeup when the economic situation is difficult may be due to a couple of reasons. The most common one says that women obey their most primitive instincts and get elements that increase their attractiveness, increasing their chances of being the partner of a strong and solvent man who guarantees their survival. Another says that women seek to buy items that make them feel secure, attractive, and confident in times of crisis, preferably of the brand they like the most, but they opt for the cheapest things in the line, such as lipsticks.
For many, neither of these explanations sit well with them because today, women don’t do their makeup for others; they do their makeup for themselves. And they like to do it using products that they like and are convenient. And because they don’t need anyone else’s money to buy what they want because they earn their own, they distinguish themselves by being consumers who compare products beyond cosmetic packaging; they do it exhaustively.
Ok, it’s true, we are all attracted to beautiful and elegant cosmetic packaging, but besides that, now we consider many other things. For example, we are now interested in the ingredients used to manufacture our makeup, and we prefer those of organic origin. Ethical issues are also fundamental; it is essential to be sure that in the manufacturing process of the makeup we are about to buy, there were no tests carried out on animals, they are not derived from their torture, nor were they packaged in conditions of child labor exploitation or something like that.
Yes, yes, the price is also essential. But only women know that the most important thing is how that beautiful cosmetic packaging we hold in our hands makes us feel. Handsome, muscular, confident, and powerful, that’s how we want to feel every time we apply makeup.
So now you know, the reason economists and psychologists want to see behind our makeup consumption habits is the least of it. So resume your activities looking and feeling better than ever. Oh, don’t forget that makeup also has an expiration date, so if you obey the confinement by Covid-19, you surely need to renew your whole kit.
