Candace Nelson Instagram – The Lipstick Index explained 💄
First observed during the Great Depression, this phenomenon was officially coined in 2001 by Leonard Lauder (of Estée Lauder). He noticed that during economic recessions, lipstick sales actually increase! 🤯
Why? The Lipstick Index reveals that even in tough times, consumers seek affordable luxuries.
While people cut back on big expenses, they indulge in smaller “treats” to maintain a sense of normalcy and joy.
I witnessed this firsthand during the Great Recession with Sprinkles Cupcakes. Rather than seeing a drop in sales, customers continued buying our cupcakes as a sweet escape from financial stress.
Business owners, have you experienced the Lipstick Index in action? Share your stories below! 💄
Thanks @gracebeverley for having me on the Working Hard, Hardly Working podcast!
#LipstickIndex #BusinessInsights #EconomicTrends #CandaceNelson #EntrepreneurWomen #BusinessLessons #Entrepreneurship101 | Posted on 03/Sep/2024 21:48:19
