The lipstick effect

For more than two decades now, cosmetic companies, and economists, have used the ‘Lipstick Effect’ to help gauge what’s happening to the economy.

The term was allegedly coined during the 2001 recession by Leonard Lauder, then the chairman of Estee Lauder Cosmetics. He noted that lipstick sales rose in the autumn of that year, indicating that women facing an uncertain economic environment turned to beauty products as an affordable treat.

Now makeup sales are booming as masks have been abandoned, and lipstick has been leading the way in the USA and Europe, and probably in New Zealand too.

Did you know…
– Lipstick became a symbol of female emancipation in the early 1900s, bolstered by  the endorsement of the suffragettes.
– The swivel tube, used today by the majority of lipstick brands, was invented in 1923 by James Bruce Mason, Jr.
– Lipstick materials continue to change as make-up becomes more sustainable and environmentally friendly.