CODE: LIPSTICK
The Lipstick Effect It's so important to understand what's happening in your environment whether it's socially, politically or economically. It can have a direct effect on your business either for the better or for the worst. Tightening the purse strings means that consumers are less likely to make big purchases like a sofa or a new bed or a new car and perhaps holding out for another year or two till till our wallets ripen up. Therefore leading the way for smaller luxuries, que; The Lipsitick Effect. The lipstick effect is the theory that when facing an economic crisis consumers will be more willing to buy less costly luxury goods. [ quote ] It's easier to spend £20 on a lipstick or some other beauty item opposed to £200 on a new mattress . We feel less stressed and pressured to not save £200 for a mattress making it far more easier to hand out £20 for a small luxury item. As explained in The Guardian there h...