Lipstick Indicator of Hard Times
From the New York Times, May 1, 2008
After the terrorist attacks of 2001 deflated the economy, Mr. Lauder [Chm of the Estée Lauder Companies] noticed that his company was selling more lipstick than usual. He hypothesized that lipstick purchases are a way to gauge the economy. When it’s shaky, he said, sales increase as women boost their mood with inexpensive lipstick purchases instead of $500 slingbacks.
I teach principles of economics courses and a course in the economics of healthcare at Southern Oregon University.