In this volatile and depressing economic environment, consumers and bankers alike are looking for some light at the end of the tunnel.
Look no farther than the makeup counter my friends.
In recessionary times, economists have noticed lipstick sales actually increase. This trend was coined “The Lipstick Factor.”
So when everyone is flat broke how can sales be increasing?
Two Words: Small Luxury.
A small luxury like lipstick keeps people happy in a sad environment. They know it isn’t fiscally responsible for to blow money on large purchases but something small like lipstick provides a cheap way to boost their mood without putting any major dents in the pocketbook.
In our factory, we make lipstick. In our advertising, we sell hope.
Peter Zarlenga
Another reason why beauty sales increase during economic downturn? Many people are losing their jobs and homes and trying to save money on beauty products at that point is like straightening chairs on the Titanic.
If buying a ten dollar lipstick saves you from feeling like you need a $200 dress, mission accomplished. Little somethings are better than big nothings.
Or maybe you need some beautification to motivate yourself in the job search.
In fact, beauty sales were increasing before the recession even began. In the five years up to 2007 the market for luxury beauty products in the US grew by 17 percent to reach just under $9 billion.
Good News for Cosmetology School Hopefuls
This is the perfect time to get involved in a cosmetology program. If you strike while the iron is hot you can make the best of this rainy day. And by rainy day, I mean severe economic meltdown. Many cosmetology schools have reported increased sales and more people tend to frequent beauty schools for treatments because they are inexpensive compared to high-end resorts.
For more information about Cosmetology schools in your area check out My Colleges and Careers.
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