Lipstick effect

Rarity: Common

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At a glance

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Notion

Domain

Science and technology

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What Wikipedia says

The lipstick effect is the hypothesis that when facing an economic crisis, consumers will be more willing to buy less costly luxury goods. The concept was publicized in 2008 when Leonard Lauder said that he noted his company's sales of lipstick rose after the 2001 terrorist attacks.

Excerpt from the Wikipedia article “Lipstick effect”, under the CC BY-SA 4.0 license. Read the article on Wikipedia

Image: Sjr, Public domain, via Wikimedia Commons.