How beauty products and "self care" influence consumer behavior
Are you familiar with the term "lipstick effect"? This phenomenon describes how women tend to maintain their beauty routine or even invest in higher quality and more expensive beauty products, especially in times of crisis. Due to the widespread wearing of masks in the current crisis, it can be assumed that sales of lipstick will not increase - as they did after 9/11, for example - but certainly other beauty products will, especially anything to do with "self care".
Very interesting are the comments in Wikipedia: "In a recent study by four university researchers, this effect is attributed to evolutionary psychology: "This effect is driven by women's desire to attract mates with "resources" and depends on the perceived mate attraction that these products fulfill. It also shows how and why economic recessions affect women's desire for beauty products. This study offers new insights into women's mating psychology, consumer behavior, and the relationship between the two. ...Although the lipstick effect has generated some anecdotal lore, the present study suggests that money spent by women on cosmetics, may be the third indicator of economic recession - an impetus that may be rooted in our "ancestral psychology.""
Sources: WIKIPEDIA https://lnkd.in/enNsHss and "Boosting Beauty in an Economic Decline: Mating, Spending, and the Lipstick Effect." Journal of Personality and Social Psychology.
