Never knew this before:
Quote:
The lipstick index is a term coined by Leonard Lauder, chairman of the board of Estee Lauder, used to describe increased sales of cosmetics during the Early 2000s recession. Lauder made the claim that lipstick sales could be an economic indicator, in that purchases of cosmetics - lipstick in particular - tend to be inversely correlated to economic health. The speculation was that women substitute more expensive purchases like dresses and shoes for lipstick in times of economic distress.
Lauder identified the Lipstick index as sales across the Estee Lauder family of brands. Subsequent recessions, including the Late-2000s recession, provided controverting evidence to Lauder's claims, as sales have actually fallen with reduced economic activity. Conversely, lipstick sales have experienced growth during periods of increased economic activity. As a result, the lipstick index has been discredited as an economic indicator. The increased sales of cosmetics in 2001 has since been attributed to increased interest in celebrity-designed cosmetics brands.
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In Finland there was 6% increase in sales of professional cosmetics last year. Growth in sales was 8% in 2009, they expect the same this year.
For my own part, I have to say I've bought quite a lot of cosmetic products this year, not for myself exactly, but cosmetics was the main theme of my Christmas presents this year. The fact that my sister sells them as a retailer may have some influence on it though.
And on a side note my 5 y/o daughter has become more interested in wearing lip gloss and polishing nails.
Have you noticed the increase?