No lipstick effect in recessionMonday, 27 April 2009
Intriguing research findings have prompted women do not buy more lipstick in an economic downtown.
As was reported by WGSN, Mintel's research shows women prefer Austerity Chic - looking good for less - replacing the Lipstick Effect of previous recessions.
Research conducted in the UK, the US and France showed just 3% of women in each country said that they purchased a lipstick to make themselves feel better - with the same percentage giving the same answer for skincare, haircare and fragrance. Lip colour, however, came top of the list of cosmetic products women would be most likely to spend less on or stop using, the report claims.
But the report also said the beauty business as a whole is resilient. Six out of 10 women surveyed in all countries reported no change in their beauty buying habits, despite the troubled economy. In addition, more than 60% of women in each country spent the same or more on their foundations and women in all three countries were most likely to spend the same or more on essential products such as shampoo and cleanser.
"It is a common perception that lipstick sales go up in times of economic adversity, yet this research reveals a very different picture. Haircare and skincare are actually the beauty categories where women are spending the same or more," said Nica Lewis, head consultant for Mintel Beauty Innovation.
"Beauty is now marketed as a necessity rather than a luxury and women are being creative with their spending to keep up appearances," she added. "This means women are investing in moisturisers, body lotion and haircare, rather than lipstick."