The Wall Street Journal:
Tough times demand sensuous lips?
It’s long been conventional wisdom among retailers that one thing women don’t cut back on, in an economic downturn, is beauty products — indeed, they may increase such spending. A new study in the Journal of Personality and Social Psychology claims to be the first to demonstrate the existence of the so-called lipstick effect:
Using both historical spending data and rigorous experiments, we examine how and why economic recessions influence women’s consumer behavior.
Read the whole story: The Wall Street Journal