The lipstick effect is the hypothesis that when facing an economic crisis, consumers will be more willing to buy less costly luxury goods. The concept was publicized in 2008 when Leonard Lauder said that he noted his company's sales of lipstick rose after the 2001 terrorist attacks.
The lipstick effect is the hypothesis that when facing an economic crisis, consumers will be more willing to buy less costly luxury goods. The concept was publicized in 2008 when Leonard Lauder said that he noted his company's sales of lipstick rose after the 2001 terrorist attacks.
Source: Wikipedia "Lipstick effect" · CC BY-SA 4.0
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